Chainlink Surges with Over 400% Spike in Whale Transactions

Chainlink surges 401% in whale transactions, totaling $520.44 million.
LINK rises by 3.78% to $14.68 amid potential resistance.
Chainlink’s Staking v0.2 introduces a 45 million LINK pool.

Chainlink (LINK) experienced a staggering surge in whale transactions, marking a 401% increase. This surge amounted to an impressive $520.44 million worth of LINK being moved in these significant transactions within a single day.

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Amid this surge in whale transactions, the value of LINK saw a positive response, rising by 3.78% to reach $14.68. However, this price point also seems to intersect with a potential resistance zone.

This range, spanning from $14.68 to $15.12, has seen substantial activity from around 12,820 addresses that collectively acquired 8.69 million LINK at an average price of $14.86. Analysts and traders are closely monitoring this range, speculating on the possibilities of profit-taking or increased selling pressure.

Simultaneously, Chainlink made significant strides with the introduction of its Staking v0.2. This unveiling marks the initiation of a 45 million LINK pool, offering 40,875,000 LINK to community members.

The remainder of the pool is allocated to Chainlink node operators supporting the Chainlink Data Feeds actively. Community stakers, in both early and general access stages, are permitted to stake a minimum of one LINK and a maximum of 15,000 LINK per address, signifying a new era for LINK stakers within the Chainlink network.

The surge in whale transactions and the positive market response witnessed in the LINK’s value, coupled with the new staking era introduced by Chainlink, hint at the evolving dynamics within the Chainlink ecosystem.

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Bhea Lacsamana

Bhea is a fintech journalist specializing in crypto, with a unique blend of roles as a content creator, anthropologist, and qualitative researcher. Her articles dive into both financial technology and cultural traditions, reflecting her diverse interests. Catch her immersed in a book where her love for learning thrives.