Chainlink Whales Buy the Dip, Grab 6.2 Million LINK

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Graphic of Chainlink whales buying LINK during market dip
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Chainlink Whales Buy the Dip, Grab 6.2 Million LINK

Chainlink whales, on-chain data shows, used last week’s crypto downturn to add to their reserve, according to information from the chain. On Monday, crypto analyst Ali Martinez shared the information of the fact that the whales of them and their large holders committed over 6.2 million LINK to accumulate over the past week.

Top Whales Hold 502 Million LINK

According to IntoTheBlock information, the amount of Crypto held in the 10k – 100k brackets was up by 1.94% during the last month. The group of whales having 100k and 1 million LINK in their accounts rose by 4.57% of their 100k – 1 million LINK during the same period.

As of now, as much as 19 whale addresses with a cumulative stake of 10 million to 100 million LINK have about 502 million LINK. At current prices, this would result in a seat worth of about $6.2 billion and a 50.29% incidence of the concentration of a certain whale out there.

100k – 1 million LINK whales 481 are the largest and have 127.63 million tokens, which are worth about $1.57 billion. At the same time, 83 addresses in between 1 million and 10 million hold a total of 195.9 million LINK, which is about $2.42 billion.

Them total supply is 1 billion LINK where the circulating supply is 608 million according to IntoTheBlock data.

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Whales Buy LINK Dip

The recent whale population is being more drawn in by the Chainlink market despite cryptocurrency price going down the lowest at $11.15 on July 5. The pricing of Chainlink grew to $13.20 later, indicating an increase of 6% in profit in the past 24 hours.

Chainlink has been since the recent months a developer’s heaven where it has seen massive growth, and this is due to the introduction of new functionalities and adaptability. This includes the formation of a recent alliance between Fidelity International and Sygnum. Chainlink technology is utilized for Fidelity International to power a $6.9 billion dollar money market fund.

Also, LINK actually increased quite significantly following a cooperation between the Chainlink and Telefonika, a Spain-based telecoms empire. The initiative’s goal is to utilize Chainlink Labs’ utilities to heighten the safety of the telecommunications firm and safeguard individuals from sim swapping attacks.

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