Chainlink whales have accumulated more LINK tokens over past month
At the time of publication, LINK was trading at $8.04, up 5.96% in the last 24 hours and 18.24% on the weekly time frame. Whales, or large holders, might have partly fueled LINK's price increase in the past month, on-chain data suggests.
#Chainlink whales have accumulated around 11 million $LINK over the past month, worth roughly $77 million! pic.twitter.com/ZPbo8Preaj— Ali (@ali_charts) July 27, 2023
On-chain data shows that Chainlink whales, or large holders, added roughly $77 million to their LINK holdings in the past month, with increased demand boosting prices.
Citing Santiment data, cryptoanalyst "Ali'' reported that Chainlink whales have accumulated around 11 million LINK over the past month, worth nearly $77 million.
Chainlink boasts significant development
Chainlink's development has accelerated in the last month. Chainlink's Cross-Chain Interoperability Protocol (CCIP) was just introduced on the mainnet.
Developers can currently use the CCIP protocol on five testnets: Arbitrum Goerli, Avalanche Fuji, Ethereum Sepolia, Optimism Goerli and Polygon Mumbai.
The protocol is powered by the same security paradigm that powers pricing oracles, which are supposed to be resistant to flash-loan attacks and other generally recognized vulnerabilities.