The Chainlink Price analysis is currently bearish, although the LINK price did gain after it bounced within a descending channel pattern. If Bitcoin faces another wave of selling pressure, the move will drag the crypto market influencing LINK to move southwards.
Chainlink Flips Shiba Inu As Most-Purchased & Sold Tokens
While Chainlink’s LINK price is struggling for a bull run, Chainlink enters the top 100 Ethereum (ETH) whales list in terms of most traded and widely held tokens over the last 24hrs. Interestingly, Chainlink has flipped Shiba Inu to become one of the most purchased and sold tokens by top whales.
As per WhaleStats data, Chainlink (LINK) is one of the most demanded tokens among the top 100 Ethereum whales. On average, the whales have purchased 7710 LINK tokens worth $105,877 over the last 24 hours.
Moreover, though the LINK token has successfully flipped Shiba Inu (SHIB) token to be one of the most traded and widely used tokens, Shiba Inu did gain massive traction after the token was successfully listed on Robinhood’s platform pushing SHIB price to increase by 10% in just a few hours of the news.
Furthermore, the 10th largest Ethereum whale Three Arrows Capital had acquired nearly 135,989 Chainlink tokens worth about $1,855,555 on Thursday, April 14. On the other hand, other whales, including the ETH whale named “Radagast” purchased 269,816 LINK for $3,736,964, and the “Great Goblin” ETH whale made a purchase of 199,015 LINK worth $2,756,357 over the last 24hrs.
The increased integrations on BNBChain and Polygon that helps various projects have brought Chainlink (LINK) into the spotlight making it one of the most demanded tokens among Ethereum whales in recent days.
At the time of writing, Chainlink (LINK) is trading at $13.92 with a decrease of 0.48% over the last 24hrs and nearly 11% down in the last seven days. Since April, the LINK token has been trading downwards. However, the increased interest from the largest Ethereum whales will most likely push Chainlink towards a bull rally.
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Source: https://coinpedia.org/altcoin/top-eth-whales-are-stacking-chainlink/