Accumulate

Cardano

Millions

Chainlink

Prominent on-chain analytics platform Santiment reports that, following a sharp decline that sent <a href="https://en.coin-turk.com/" target="_blank" rel="noopener" data-wpel-link="internal">prices</a> to their lowest in three years, deep-pocketed investors have been accumulating millions of Chainlink (LINK). The analytics platform also highlights Cardano&#8217;s (ADA) potential as a buying opportunity, signaling that the altcoin market is entering a phase of rebalancing. 
<h2 style="text-align: justify;" id="span-data-contrast-auto-middle-size-wallet-addresses-hoarding-link-span-span-data-ccp-props-201341983-0-335551550-0-335551620-0-335559739-160-335559740-259-span">Middle-Size Wallet Addresses Hoarding LINK </h2>
Santiment noted that wallet addresses holding between 1,000 and 100,000 LINK have accumulated roughly 3.9 million LINK worth about $20 million over the past week. According to the analytics platform, the activity of these large whales has reached a record level for 2023: 
<blockquote>The amount of Chainlink whale transactions has reached its highest level in 2023 as prices plummeted to a three-year low of $5 over the weekend. Medium-sized wallet addresses (holding between 1,000 and 100,000 LINK) are especially accumulating in large volumes, accumulating 3.9 million LINK ($20 million worth) over the past week.</blockquote>
<img decoding="async" loading="lazy" class="aligncenter wp-image-84345 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/link-1.png" alt="" width="1382" height="892" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/link-1.png 1382w, https://en.coin-turk.com/wp-content/uploads/2023/06/link-1-263x170.png 263w, https://en.coin-turk.com/wp-content/uploads/2023/06/link-1-768x496.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/link-1-1200x775.png 1200w" sizes="(max-width: 1382px) 100vw, 1382px" />
Chainlink&#8217;s native asset LINK, a decentralized oracle network, is currently trading at $5.37, down by 13.44% in the last seven days, pricing over 90% below its all-time high as of this writing. 
<h2 style="text-align: justify;" id="span-data-contrast-auto-cardano-offers-a-8220-buy-the-dip-8221-opportunity-span-span-data-ccp-props-201341983-0-335551550-0-335551620-0-335559739-160-335559740-259-span">Cardano Offers a &#8220;Buy the Dip&#8221; Opportunity </h2>
Santiment also suggested that following the recent collapse, <a href="https://21milyon.com/coin/ada" target="_blank" rel="noopener" data-wpel-link="exclude">Cardano</a> (ADA), seen as a competitor to Ethereum (ETH), may have reached a buying level. The platform stated that ADA’s trading volume and social dominance have reached the highest levels of 2023 after falling to $0.25: 
<blockquote>The Cardano capitulation was more pronounced during the June 9 crash compared to other altcoins. After prices fell 35% between June 5 and 9, a buying opportunity arose when ADA volume, wallet address activity, and social dominance reached their 2023 peak on June 10.</blockquote>
<img decoding="async" loading="lazy" class="aligncenter wp-image-84346 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/cardano-2.png" alt="" width="1394" height="894" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/cardano-2.png 1394w, https://en.coin-turk.com/wp-content/uploads/2023/06/cardano-2-265x170.png 265w, https://en.coin-turk.com/wp-content/uploads/2023/06/cardano-2-768x493.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/cardano-2-1200x770.png 1200w" sizes="(max-width: 1394px) 100vw, 1394px" />
Currently, Cardano is trading at $0.2747, down 20.90% over the last seven days, pricing 91% below its all-time high with current rates. 
Addressing the broader altcoin market, Santiment noted that the market is undergoing a balancing process this week following the weekend&#8217;s downturn: 
<blockquote>
With investors aware that the SEC might go after Binance and Coinbase, the situation seems to have calmed down for now. We could see prices gradually rising back to pre-crash levels until the next developments in the lawsuits.
</blockquote>
<img decoding="async" loading="lazy" class="aligncenter wp-image-84347 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/crypto-8.png" alt="" width="1420" height="904" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/crypto-8.png 1420w, https://en.coin-turk.com/wp-content/uploads/2023/06/crypto-8-267x170.png 267w, https://en.coin-turk.com/wp-content/uploads/2023/06/crypto-8-768x489.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/crypto-8-1200x764.png 1200w" sizes="(max-width: 1420px) 100vw, 1420px" />
The post <a rel="nofollow" href="https://en.coin-turk.com/whale-investors-accumulate-millions-of-chainlink-link-as-altcoin-market-seeks-balance/" data-wpel-link="internal">Whale Investors Accumulate Millions of Chainlink (LINK) as Altcoin Market Seeks Balance</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Whale Investors Accumulate Millions of Chainlink (LINK) as Altcoin Market Seeks Balance

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