Smart Money Moves: Heavy Chainlink Accumulation Surpasses $38.5 Million, Retail Traders Opt for Profits
Crypto analytics firm Santiment has observed a significant uptick in Chainlink’s native asset (LINK) accumulation by large wallets.
Addresses holding between 100,000 and 1 million LINK amassed a total of $38.5 million worth of the crypto asset in the last week alone. This development is considered more impactful by Santiment than smaller retail traders cashing out their profits. Another analytics platform, IntoTheBlock. Reported that large holders acquired a substantial $121 million worth of LINK in the past month.
Analyst Michaël van de Poppe remains optimistic, suggesting that despite LINK’s recent 10% correction from its late September peak of $8.23, as long as the price stays above $6.70-7.00, a breakout is imminent. Notably. LINK is currently trading at $7.42, exhibiting a remarkable 20% increase in the past 30 days. Reinforcing the positive sentiment surrounding its potential surge.
Clever Robot News Desk 19th October 2023
