Large investors or so-called “whales” continue to build up reserves in the ChainLink (LINK) cryptocurrency.
According to Glassnode, 1% of LINK addresses are under control is up to 84.44% of the total altcoin market offer.
📈 $LINK Percent Supply Held by Top 1% Addresses just reached a 3-year high of 84.440%
Previous 3-year high of 84.402% was observed on 19 April 2021
View metric:https://t.co/Yu7MgXuKe8 pic.twitter.com/cqQL0PE2eC
— glassnode alerts (@glassnodealerts) April 21, 2021
The researchers note that taking into account the current price of the coin, the “whale” wallets hold ChainLink for a total of just over $ 13.2 billion. As of April 21, the largest addresses have accumulated 353,811,669 tokens.
The desire of the “whales” to accumulate as many coins as possible suggests that they are confident in the giant potential of LINK. Moreover, the accumulation is observed against the background of the fall in the value of the altcoin.
ChainLink is currently ranked 13th among the largest digital currencies by CoinMarketCap. The LINK rate on Friday, April 23rd, is holding around $ 31. Altcoin capitalization has dropped to $ 13 billion over the past 24 hours.
Note that until recently, ChainLink was among the top ten cryptocurrencies. The Whales believe that the potential for further growth of the coin is far from exhausted. They expect the rollout of ChainLink 2.0 to make the cryptocurrency more attractive.
ChainLink 2.0 is based on Decentralized Oracle Networks. A wide range of tools for launching smart contracts will push back other DeFi projects and attract a large number of new users of the ecosystem.