Chainlink (LINK) has been a standout in the crypto market recently, registering an 11% increase over the past six days, even as the broader crypto market sentiment remains subdued.
Will Uptober Start Early For Chainlink?
A significant factor that might be driving this price action is the behavior of LINK’s major holders. On-Chain analysis firm, Santiment, highlighted this in a recent tweet, stating: “Chainlink’s key shark tier that holds between 10K-100K LINK has been on an accumulation spree.”
Diving deeper into the data, there are now 3,127 wallets holding between 10,000-100,000 LINK, marking the highest level since December 3, 2022. These wallets have added a staggering $9.6 million worth of LINK in just three days. Since September 3rd, there’s been a 3.2% rise in the number of wallets in this category, with 98 new wallets emerging. This group has accumulated 0.154% of the entire LINK supply in the same period.
However, Chainlink’s journey hasn’t been entirely smooth.
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