Chainlink has seen a heavy backlog of whales and tackle activity this year. Sharks and whale titles, with 10,000-1 million LINKs, continued to pile up tokens as the bear market began.
According to the latest news data From crypto analytics platform Santiment, this group of investors has collectively added more than $312 million in LINK tokens to their portfolios since March 3.
Chainlink’s shark and whale titles (priced at $10,000 to $1 million) have been busy collecting during the 2022 bear market. Since March 3, these titles have added 47.31M LINK to their combined portfolios. This translates to an additional investment of $312.7 million.”
- Whales and sharks currently own 17.61% of the total circulating supply of LINK, increasing their holdings by 4.73% over the six-month period.
- Usually, the accumulation trend is preceded by price swings to the upside, but this was not the case for Chainlink.
- On the price front, LINK has yet to see a breakout after erasing many of the gains made during the short rallies last month.
- The recent selling pressure can be attributed to the token offloading with another class of LINK addresses that contain more than 10 million links, and control about 54% of the total circulating supply.
- Outflows were also observed in whales with between 10,000 and 100,000 links, leading to sell-offs that led to a loss of nearly 9% for the week.
- Another group piling up is LINK addresses with between 100,000 and 10 million coins that saw their balances increase significantly.
- On the development side, Chainlink recently announced 15 integrations across BNB, Ethereum, Moonbeam, and Polygon.
- The Oracle provider has also secured its place in providing services to the shipping and offshore industries in line with its expansion plans across some of the key industry pillars through Ontonomi’s modular insurance platform.
- Recently, it launched a new program called SCALE to ease the running costs of oracle networks.
Chainlink Sharks and Whales’ post adding $313 million worth of LINK in six months debuted on CryptoPotato.