Chainlink Sees Strong Accumulation as LINK Skyrockets 17% Daily

Chainlink (LINK) Sees Notable Recovery Amid Market Volatility

Despite recent market struggles, Chainlink has staged a notable recovery, rising by over 16% in the past 24 hours amid high volatility.

LINK Wallets Increase Holdings to 18.15% of Total Supply

During this period, the top LINK wallets were found to have increased their holdings to 18.15% of the total supply, worth approximately $2.93 billion. This accumulation trend among major holders suggests continued confidence in the asset despite recent market turbulence. This aligns with LINK recently recording the highest whale activity in 14 months.

LINK Surges After Market Dip

Chainlink has shown a notable rebound following a market-wide downturn, recovering from a low of $13.18 on Tuesday to reach $15.42, according to Santiment’s latest update. In the following hours, LINK even surpassed the $16 mark.

The analytics firm observed that the asset is currently experiencing "abnormally" high trading volume and volatility. This movement could be attributed to the top five LINK wallet holders, whose stashes continue to grow and now account for 18.15% of the total supply.

Santiment’s Observations on LINK’s Performance

Santiment pointed out that the asset’s price is experiencing "abnormal" trading volume and volatility. This is a key indicator of market sentiment, as it suggests that investors are actively involved in the market and are willing to trade at high frequencies.

LINK Among Top Contenders for US Strategic Reserve Inclusion

Meanwhile, LINK has been identified as a potential candidate for inclusion in the US strategic reserve, according to CryptoRank’s latest tweet. While Trump has hinted at the inclusion of certain cryptocurrencies like XRP and ADA, he has also mentioned "other valuable cryptocurrencies," leaving room for speculation about LINK’s potential inclusion.

FAQs

Q: What is the current price of Chainlink (LINK)?
A: The current price of LINK is $15.42.

Q: What is the current market capitalization of Chainlink (LINK)?
A: The current market capitalization of LINK is approximately $2.93 billion.

Q: What is the total supply of Chainlink (LINK)?
A: The total supply of LINK is approximately 154.6 million.

Q: What is the current trading volume of Chainlink (LINK)?
A: The current trading volume of LINK is abnormally high, indicating high market activity.

Q: What is the current market sentiment around Chainlink (LINK)?
A: The current market sentiment around LINK is one of recovery and growth, with the asset’s price experiencing a notable rebound after a recent market-wide downturn.

Conclusion

In conclusion, Chainlink’s recent recovery is a significant development in the cryptocurrency market. The asset’s price has risen by over 16% in the past 24 hours, and its top wallet holders have increased their holdings to 18.15% of the total supply. This accumulation trend among major holders suggests continued confidence in the asset, despite recent market turbulence. As the market continues to evolve, it will be interesting to see how Chainlink’s performance unfolds in the coming days and weeks.