## Crypto Whales Accumulating Chainlink Tokens
### Santiment Report Reveals Interesting Behavior
In a recent report, cryptocurrency analysis company Santiment shed light on the behavior of crypto whales, particularly in relation to Chainlink (LINK) tokens. According to analysts, the rise of altcoins has been led by Chainlink, with a notable accumulation of LINK tokens by significant whales.
Santiment data shows that the top 200 cryptocurrency wallets on the Chainlink network have added a staggering 50 million LINK to their balances over the last five weeks. This accumulation translates to approximately $800 million, based on the current value of LINK tokens, which has contributed to the overall market value of the token reaching approximately $9 billion.
The report also highlights the impressive growth of the Chainlink token, with a 143% increase in market value over the last five months. This growth surpasses that of Bitcoin, which recorded a 93% increase in the same period. An annual chart included in the report shows a substantial rise in the price of LINK as of October, further reinforcing the significant surge in the token’s value.
The surge in Bitcoin’s price, which saw it climb to $39,700, paralleled a notable 8% increase in the LINK price over the last 24 hours. Upon examining the data, it becomes apparent that this increase in the LINK price coincided with the accumulation of tokens by whales, particularly from the second half of October.
Despite the noteworthy accumulation of LINK tokens and the subsequent surge in price, Santiment also issued a disclaimer that the report does not constitute investment advice. It serves more as an observation of the behavior of crypto whales and the impact of their actions on the market.
The report by Santiment provides valuable insights into the behavior of crypto whales, particularly with regards to the accumulation of Chainlink tokens. The substantial addition of 50 million LINK to the top 200 cryptocurrency wallets on the Chainlink network has undoubtedly played a significant role in driving up the market value of the token. This, coupled with the substantial growth in the LINK price compared to Bitcoin, underscores the influential role of crypto whales in the cryptocurrency market.
I have been writing about crypto for over two years. I have a vast amount of experience in the industry and my work has been featured on some of the biggest publications in the space.
