With $520.44 million worth of LINK exchanged in these transactions, Chainlink is witnessing a staggering 401% increase in major transaction volume.
IntoTheBlock classifies every transfer above $100,000 as a significant transaction; the number of these transactions indicates the total amount that whales, or huge holders, shift in a single day.
Whale activity was evident as the volume of major transactions in the recent day, amounting to 35.88 million LINK, was the most in the previous seven days. Large transaction volumes rising often indicate aggressive buying or selling by whales.
As of this writing, LINK was rising 3.78% to $14.68 in the previous day, indicating a good response to the spike in whale transactions.
There looks to be a possible resistance zone close to the present trading price of LINK, where breaking even or profit-taking may lead to selling pressure. In this pricing band, which is between $14.68 and $15.12, 12,820 addresses purchased 8.69 million LINK at an average cost of $14.86.
Conversely, traders may want to pay close attention to the $14.19 to $14.63 region. With 17,920 wallets holding around 45.03 million LINK, this zone offers vital assistance.
Chainlink announces new staking era
A new era for LINK stakers has begun with the launch of Chainlink Staking v0.2 on the Ethereum mainnet.
The capped 45,000,000 LINK pool will be distributed as follows at the start of Staking v0.2: 40,875,000 LINK will be allocated to community members, and the remaining amount will be given to Chainlink node operators that actively promote Chainlink Data Feeds.
Community stakeholders may stake a minimum of one LINK and a maximum of 15,000 LINK per address during early access and general access.
Chainlink cautions its community to be wary of fraudulent websites impersonating the Chainlink Staking website, especially in light of the enthusiasm around this news. Users are advised to always verify the website URL before proceeding in this respect.
