Analytics

Whales and Sharks Accumulate $194,000,000 Worth of Ethereum-Based Altcoin in Just Two Months: Analytics Firm Santiment

Leading analytics firm Santiment reveals that the two largest Chainlink (LINK) investor cohorts have loaded up on the Ethereum (ETH)-based oracle network to the tune of $194.3 million in just two months.

According to Santiment, LINK whales and sharks now hold the largest percentage of Chainlink’s supply since the altcoin was created in 2017.

“Chainlink’s shark and whale address, holding between 1,000 to one million LINK, have gone on an unprecedented surge of accumulation. These wallets have added a collective 26.8 million LINK ($194.3 million) in just two months, a 12.8% increase of coins to their bags.”

Source: Santiment/Twitter

Amid heavy whale and shark accumulation, crypto strategist Kaleo tells his 550,500 Twitter followers that he expects Chainlink to outperform Bitcoin (BTC) in the coming months.

According to Kaleo, the LINK/BTC pair has broken out of its diagonal resistance on the daily chart and looks poised to a rally toward his target at 0.0007 BTC ($12.04).

“LINK/BTC is on the verge of sending.”

Source: Kaleo/Twitter

At time of writing, LINK is swapping hands for $7.54, an increase of 3% on the day.

Santiment is also keeping an eye on payments-focused altcoins XRP and Stellar (XLM). According to the insights firm, both altcoins dominated crypto-related social media discussions on Friday.

“XRP, Stellar, and Status (SNT) are all currently on the top trending list in crypto Friday. These assets are all relatively even on the day, which means pump chances are higher than usual. But watch for a quick sell-off if they do while trending.”

Source: Santiment/Twitter

At time of writing, XRP is changing hands for $0.39 while XLM is valued at $0.08.

   

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