Whales aggressively accumulated 5.12 million tokens in last week alone
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Partly contributing to the rise, Santiment noticed an increase in the accumulation of tokens by shark and whale addresses coinciding with this timing. It was noticed that Chainlink's key stakeholder tier now has a six-year high in tokens as traders take profits.have accumulated aggressively, with $38.5M in coins added in the past week alone. Their moves are more relevant than small retail traders taking profits.
LINK began to increase on Sept. 11 after reaching lows of $5.95 and subsequently hitting highs of $7.95 on Sept. 30.The Depository Trust & Clearing Corporation, the world's largest securities settlement system, was also announced to be exploring Chainlink CCIP to enable tokenized asset interoperability.
This caused Chainlink to close September in the green. Bulls continue to sustain momentum despite the declines seen in October, with on-chain data suggesting increased whale activity with rising active addresses.The appearance of a golden cross on Chainlink's daily chart also boosts the bulls' narrative. A golden cross is a bullish chart pattern that happens when a short-term moving average crosses a long-term moving average from below.
Chainlink enjoyed four consecutive days in the green, beginning on Oct. 13, when the golden cross first appeared, reaching highs of $7.82 on Oct. 17.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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