Analyst Lauds LINK 7-Months Resilience at $7 Amid Market Turbulence

• Ali Martinez commends Chainlink (LINK) amid a volatile market.
• Martinez highlighted the diligent efforts of Chainlink’s developers.
• Santiment reveals LINK’s rise ahead of altcoins, fueled by heavy whale accumulation.

Ali Martinez, a prominent crypto chart analyst, recently took to Twitter to commend the performance of Chainlink (LINK) amid a volatile crypto market. Martinez argued that while numerous cryptocurrencies have been hogging the spotlight since December, LINK has steadily maintained its position, hovering around the $7 mark. 

Martinez’s tweet was accompanied by a revealing market chart image sourced from Santiment, a market intelligence platform renowned for its on-chain and social metrics. The crypto analyst highlighted the diligent efforts of Chainlink’s developers, who have been laser-focused on refining the network’s capabilities.

Meanwhile, Santiment itself recently tweeted fascinating insights about Chainlink’s surging fortunes. According to its observations, Chainlink surged over $8 ahead of the altcoin pack last Thursday, outshining its peers in the market. 

The data analytic firm attributed the driving force behind LINK’s price rise to massive whale accumulation. The platform recorded the highest transactions valued at $1 million or more this year.

Further delving into the intriguing findings, Santiment’s detailed market chart illustrated the surge in LINK’s $1 million+ transactions, coinciding with the coin’s price appreciation. The chart also highlighted a surge in accumulation among shark/whale addresses, those holding 100,000 to 10 million LINK tokens, reaching an impressive 7-month high.

It is worth mentioning that these developments surrounding Chainlink, including the accumulation of such influential addresses, have fueled excitement and speculation within the crypto community. At press time, LINK trades at $7.78, with a slight 2.77% decrease in value over the last seven days.