Chainlink Hits Top 10 Coins Most Popular Among Ethereum Whales Besides Shiba Inu
According to WhaleStats, Chainlink has become a huge hit with Ethereum whales as it ranks as the most traded token in the last 24 hours.
WhaleStats tracks 1,000 ETH address wallets and their holdings. According to the most recent data, Chainlink now accounts for 1.21% of all holdings, or a value of $ 259,571,965, in whale-level addresses.
Shiba Inu remains the largest token position by dollar value, accounting for 8.52% of holdings, or $ 1,817,665,171 by value. Ethereum whales have been buying and selling LINK for the past 24 hours, as the coin is in the top 10 most bought and sold tokens, according to WhaleStats metrics.
Chainlink price performance
Chainlink steadily declined from the November 11 highs of $ 38.32 to the lows of $ 16.72 during the December 4 market sell-off. The price is currently consolidating around the $ 20 mark as investors look for clues to future actions. The decentralized Oracle blockchain remains below 60% from the May 10 all-time highs of $ 52.88.
Whales often take advantage of periods of downturn or macroeconomic consolidation to accumulate their favorite chips.
The accumulation phase of the market cycle indicates a flattening of prices when the market has bottomed out after a recent high. Despite the boring price action, Chainlink is still one of the most integrated networks.
Recently, the weather forecast source AccuWeather Announced a live node on Chainlink. Chainlink was up 4.06% for the day to $ 20.30 while ranking as the 20th largest cryptocurrency by market capitalization.