Popular cryptocurrency platform Santiment stated in its post yesterday that altcoins are slowly showing signs of recovery.
Stating that one of the altcoins showing signs of recovery at this point is Chainlink, Santiment said that Chainlink shark and whale addresses are active.
Stating that shark and whale addresses have accumulated 10 million dollars worth of LINK in the last three days, Santiment pointed out that there are 3,127 wallets currently holding 10K-100K LINK.
This number of wallets was the highest since December 3, 2022.
“Chainlink's shark and whale addresses holding LINK between 10K-100K are experiencing an accumulation frenzy.
There are currently 3,127 wallets holding LINK at this level, which is the highest amount since December 3, 2022.
“These addresses received LINK worth $9.6 million in the last 3 days.”
While this data on LINK showed that investors strategically increased their LINK tokens, this accumulation was interpreted by experts as a signal of an upward trend for LINK.
LINK continues to trade at $6.27 at the time of writing.
*This is not investment advice.