Chainlink (LINK) breaks record for number of whale wallets
According to Crypto Analytics Service sentiment, the number of large holders of LINK continues to grow and has already broken the record set in 2017, when the cryptocurrency was first publicly traded. Thus, the number of whale wallets has reached 459, where each address has at least 100,000 links, which is currently equivalent to about $700,000.
A broader picture on Chainlink, cited by the same source, states that since March this year, medium-to-large holders of the cryptocurrency have invested $312.7 million to buy 47.31 million LINK.
Chainlink (LINK) Price Action
During the last particularly brutal months of bear markets, LINK, like many other cryptocurrencies, has been trading in a fixed price range, in this case $6 to $8.5. In contrast, LINK is up 75% since the beginning of May against Bitcoin.
Overall, the price action of LINK is indicative of the project’s sufficient strength, as reflected in the chart. This is indirectly confirmed by the words of former Google CEO Eric Schmidt, who stated that Chainlink has better technology and scalability than its competitors.
LINK itself is trading 85% below its all-time high of $6.9 per coin. Looking at the fundamental and technical characteristics of the cryptocurrency, whether LINK can hold its own in this market and thank its followers in the future does not seem to be debatable.
