Chainlink whale addresses continue accumulating, grabbing 1.89% of the total supply

Chainlink (LINK) is grabbing the headlines as whale addresses continue heavy accumulation. Amidst the whole crypto market burning lately, it is a good time to talk about the oracle service provider cryptocurrency, which is hovering around the $35 zone as the heavy accumulation of whales continues. 

According to a report by on-chain data provider Santiment, currently, 64 addresses are holding between 1 million to 10 million Chainlink tokens. These wallets have grabbed around 1.89% of the total LINK supply to their bags in just the last four days.

“They’re now up to 18.01% of the total supply, a new #AllTimeHigh held, said the report”

Source: Santiment

The token has not participated in the recent aggressive and heavy altcoin bull rally. It, however, has surged in a decent way by more than 20% over the whole of October.

The increase in the number of major players within the DeFi ecosystem using Chainlink oracles enables the coin to grab more eyes. 

Chainlink marks a fresh milestone in TVs

The total value secured (TVS) across various blockchain networks has been one of the significant metrics for the Chainlink ecosystem. Recently, the ecosystem’s TVS breached the important $76.5 billion mark. 

The Price Feeds has recently become the most active oracle network in DeFi space. Many decentralized applications built on Ethereum, Binance Smart Chain (BSC), Avalanche, etc., rely on the network. The co-founder of the token, Sergey Nazarov, said that crossing the $75 billion mark in TVS makes the network one of the most value-securing forms of decentralized consensus in the world.

“Without trusted price data to trigger smart contracts, it is impossible to build DeFi applications, and we do not think it is a coincidence that the rate at which Chainlink has been able to bring new market data onto blockchains has been the rate at which developers have been able to build exciting new DeFi apps,” He further stated.

As TheCoinRise reported, Chainlink has recently partnered with Cardano for bringing “something big” and is also looking to fight climate change.