Chainlink (LINK) is currently the most traded cryptocurrency among Ethereum’s top 1,000 wallets, with a $2 million rise in volume, according to the WhaleStats tracking service.
Chainlink outperforms its peers on the Ethereum blockchain in terms of volume of transactions, with Ethereum whales preferring it to more well-known tokens like SHIB, CRO, OKB, and others.
Chainlink is now the sixth most held Ethereum-based coin with around $380 million in holdings among the largest wallets on the network.
Whales holding between 1 million and 10 million LINK tokens recently raised their holdings by $334.6 million in four days, according to on-chain analytics publisher Santiment.
These addresses amassed 62.02 million coins worth $1.45 billion in September (3.4 percent of the total supply). They now represent 18.01 percent of overall supply, which is a new high.
Despite the fact that the cryptocurrency has yet to have a bull run, Whales have increased their holdings, indicating the network’s bullish outlook. The price of LINK is anticipated to soar soon as long as the bull cycle continues.