Altcoin Exchange Other

Chainlink Whale Activity Explodes as $100 LINK Predictions Gain Momentum

Importance High

Two types of whale activity have rocketed on the Chainlink network, including a substantial LINK accumulation, which could point to a resurgence in the ecosystem and the native token’s price performance.

Chainlink continues to improve in terms of Real World Assets development, increasing to the second position in Santiment’s recent ranking, trailing only Hedera.

Citing recent data from Santiment, crypto analyst Ali Martinez noted that whale activity on Chainlink had “surged over the past two weeks.” The increase included more than 20 transactions for over $1 million earlier this week. According to Martinez, this signals “growing interest from large holders.”

Separately, the analyst said whales had gone on an accumulation spree, acquiring over 14 million LINK tokens within less than a month. Their holdings have grown from under 170 million to roughly 182-3 million as of the start of the current business week.

Crypto Patel recently highlighted LINK’s price performance, warning that 99% of people will ignore the setup before “it’s too late.” The analyst compared the current market behavior with moves from six years ago when the token rose to its all-time high of almost $53.

He believes that spot LINK ETFs have not seen a single red month, which is extremely bullish. Cumulative total net inflows are well over $125 million, proof that “smart money continues to accumulate,” while most retail investors “still believe LINK is dead.”

Patel outlined the current environment as the “biggest” opportunity since conviction is at its lowest, and set price targets for LINK during the next bull cycle between $50 and $100.

Source: https://cryptopotato.com/chainlink-whale-activity-explodes-as-100-link-predictions-gain-momentum/