2024

Chainlink

<p class="is-style-lead">Chainlink whales used last week’s crypto downturn to add to their holdings, on-chain data shows.&nbsp;</p>
<p>On Monday, crypto analyst Ali Martinez shared details showing that large holders of the Chainlink (<a href="https://crypto.news/tag/chainlink/" rel="noopener noreferrer nofollow">LINK</a>) grabbed more than 6.2 million of the cryptocurrency over the past week.</p>
<p>Per a whale holdings chart which the analyst <a href="https://x.com/ali_charts/status/1810214886099521729" target="_blank" rel="noopener noreferrer nofollow">posted</a> on X, the total amount of LINK these whales grabbed over the week was worth over $76.8 million.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Chainlink</a> whales have snapped up over 6.2 million <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$LINK</a> this past week, totaling approximately $76.88 million! <a href="https://t.co/Hats1Nmsny" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Hats1Nmsny</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1810214886099521729?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 8, 2024</a>
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<h2 class="wp-block-heading" id="top-whales-hold-502-million-link">Top whales hold 502 million LINK</h2>
<p>IntoTheBlock data <a href="https://app.intotheblock.com/coin/LINK" target="_blank" rel="noopener noreferrer nofollow">indicates</a> that holdings in the 10k – 100k bracket increased 1.94% over the past month, while whales with 100k-1 million LINK saw their holdings increase by 4.57% in the same period.</p>
<p>A total of 19 whale addresses (10 million to 100 million LINK) hold about 502 million LINK in total. That’s worth about $6.2 billion at current prices and represents this whale cohort’s concentration of 50.29% at the time of writing.</p>
<p>Meanwhile, whales in the 100k – 1 million LINK category number 481 and hold 127.63 million tokens worth about $1.57 billion. 83 addresses hold between 1 million and 10 million tokens, for a combined total of 195.9 million LINK worth $2.42 billion.</p>
<p>The total supply for Chainlink is 1 billion LINK, and IntoTheBlock data <a href="https://app.intotheblock.com/coin/LINK/deep-dive?group=financials&amp;chart=supply" target="_blank" rel="noopener noreferrer nofollow">shows</a> circulating supply currently stands just over 608 million.</p>
<h2 class="wp-block-heading" id="whales-buy-link-dip">Whales buy LINK dip</h2>
<p>This latest whale activity suggests whales are bullish on Chainlink, despite LINK’s price decline to lows of $11.15 on July 5. Chainlink price has since rebounded to above $13.20, with a 6% surge in the past 24 hours.</p>
<p>Over the past several months, Chainlink has surged amid multiple key network <a href="https://crypto.news/chainlink-ccip-adapts-to-general-availability/" rel="noopener noreferrer nofollow">developments</a> and <a href="https://crypto.news/chainlink-data-streams-launches-on-avalanche-mainnet-with-gmx-v2/" rel="noopener noreferrer nofollow">integrations</a>.</p>
<p>This includes the recent partnership with Fidelity International and Sygnum. The collaboration will leverage the oracle network’s technology and infrastructure to power Fidelity International’s $6.9 billion money market fund.</p>
<p>LINK also gained massively following a <a href="https://crypto.news/spanish-telecom-giant-telefonica-taps-chainlink-to-secure-api-connections-on-polygon/" rel="noopener noreferrer nofollow">strategic partnership</a> between Chainlink and Telefonica, a Spain-based telco giant. The project aims at using Chainlink Labs’ tools to boost the telecommunications company’s security and to protect users against ‘SIM Swap’ hacks.</p>

Chainlink whales buy the dip, grab 6.2 million LINK

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