A leading crypto analytics firm claims that the blockchain oracle Chainlink (LINK) is the subject of massive interest from deep-pocketed owners of the digital asset.
Santiment says that holders of between 10,000 to 1,000,000 of the Ethereum (ETH)-based altcoin have bought over 47 million more LINK over the course of the 2022 bear market.
According to Santiment, the newly accumulated amount of the 24th-largest crypto asset by market cap is approximately 4.73% of Chainlink’s existing supply.
“Chainlink’s shark and whale addresses (holding 10,000 to one million LINK) have been busy accumulating during the 2022 bear market. Since March 3rd, these addresses have added 47.31 million LINK to their wallets, collectively. This translates to $312.7 million more invested.”
Chainlink is trading at $6.54 at time of writing.
Turning to Litecoin (LTC), Santiment says that the whale transactions and address activity of the 22nd-largest crypto asset by market cap soared this week to an 11-month high.
According to Santiment, Litecoin may have bottomed out against king crypto Bitcoin (BTC).
“Litecoin has been quietly under the radar in 2022, but address activity and whale transactions have exploded this week. Particularly with $1 million+ valued transactions on the network, the timing of these spikes happened just as LTC began rising vs. Bitcoin.”
Litecoin is trading at $51.52 at time of writing, up over 26% from its 2022 low of $40.30.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/IvaFoto
This news is republished from another source. You can check the original article here