Santiment has recently made an important evaluation, explaining the reason behind the recent surge in the cryptocurrency LINK. Santiment specifically pointed to large holders. On October 17, altcoin Chainlink witnessed a surprising move by the top 200 wallets. According to this, 40,180,000 LINK tokens were acquired by these wallets. This indicated a sudden accumulation. Moreover, these acquired LINK tokens were not sold even during the surge. There is a meaning behind this strategic crypto move.
Turning Point: Wallet Accumulation Initiated the Chainlink Fluctuation
This strategic move occurred when the asset was priced at just $7.40. Afterwards, an impressive rally took place. According to Santiment, this accumulation triggered a rally towards $14.60 in the altcoin LINK. Santiment’s comprehensive analysis reveals the lasting impact of these wallet activities that shape the current market dynamics of the cryptocurrency LINK.
Just two days after the significant wallet accumulation, altcoin Chainlink embarked on an extraordinary journey and witnessed a notable increase of 125% in its value within a short period of 25 days. This increase propelled the asset to a new price range, reaching approximately $14.60. The strategic foresight displayed by the top 200 wallets during the initial accumulation played a crucial role in directing Chainlink to unprecedented heights.
Sustained Impact: Wallet Holdings Maintain High Levels
Santiment’s evaluation does not stop there. According to the analysis, large holders did not sell their LINK tokens. The influence of the top 200 wallets on altcoin Chainlink’s market dynamics did not diminish after the surge. Instead, they consistently maintained their assets at high levels, emphasizing the lasting impact of their strategic moves. The continued accumulation by these wallets indicates the confidence in Chainlink’s potential and the ongoing upward trend among key players in the cryptocurrency field.
The strategic actions of large wallets have emerged as a decisive factor in the price increase of the cryptocurrency Chainlink. Santiment’s real-time analysis sheds light on the correlation between wallet accumulation, price increase, and market sensitivity. As of the time of writing, LINK is trading at $14.23.
