Data from the Santiment on-chain analytics aggregator reveals that key tier crypto “shark” wallets (a tiny “whale”) have been acquiring LINK currencies in large quantities lately. They have been successful in stealing millions of dollars’ worth of Chainlink in a matter of days.
The Chainlink price has been increasing since Tuesday, displaying a current gain of around 7%, as this accumulation took place.
LINK sharks on accumulation spree
According to Santiment’s X post, since Sunday of this week, significant shark wallets with between 10,000 and 100,000 LINK (3,127 wallets in all) have purchased about $10 million in Chainlink. Since September 2022 began, there have been more of these wallets than ever before.
Since September 3, there have been over 100 more wallets that have 90,000–100,000 LINK, an increase of 3.2%. These total wallets—old and those opened since September—now hold 0.154% of the total amount of LINK purchased throughout the previous year.
Balancer integrates Chainlink price feeds
Chainlink has made people aware of Balancer, a significant decentralised exchange that integrates Chainlink Price Feeds on the Arbitrum mainnet. Balancer is also a significant DeFi protocol. The vast quantity of ETH pledged on Balancer will be safeguarded through this, helping to ensure secure pricing.
Chainlink Feeds can offer pricing information for the wstETH, rETH, and cbETH (liquid staking tokens) tokens that stand in for staked Ethereum. Building a composable stable pool for trades with significant amounts of staked Ethereum becomes challenging without these feeds.
Chainlink has been working with key DeFi protocols for the past several years, defending them against exchange outages, data flash crashes, manipulation attempts, etc. while handling billions of dollars in smart contract value.
In light of the recent increase in staking, Balancer made the decision to strengthen the security of its DeFi protocols.
