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Chainlink LINK Whales Scoop Up 0.67% of Supply as Network Upgrades Fuel Rally
Chainlink LINK Whales Scoop Up 0.67% of Supply as Network Upgrades Fuel Rally
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Chainlink LINK News -
Chainlink (LINK) is experiencing heightened whale activity, with major wallets accumulating 0.67% of the circulating supply in August. This buying spree coincides with a 13% price surge within 24 hours, lifting LINK to $18.89 at reporting time. Trading volume skyrocketed 300% to $1.37 billion, with derivatives markets echoing the bullish sentiment—open interest climbed 24.7% while futures volume exploded by 252%.
Santiment data indicates wallets holding 100,000 to 1 million LINK increased their positions by 4.2% this month. The accumulation aligns with Chainlink's recent technical upgrades, sparking speculation of a potential breakout above the $20 resistance level. With a 36% monthly gain, market structure strongly favors bulls.
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