These Two Altcoins See Strong Whale Accumulation, ETH Lags Behind
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The world’s largest cryptocurrency Bitcoin (BTC) has seen some selling pressure recently moving closer to $19,000. On the other hand, a few altcoins have been showing good momentum with strong whale accumulation and address activity.
Oracle service provider Chainlink has been on the radar of big investors who have been accumulating the altcoin throughout the bear market of 2022. The LINK price has been oscillating in the price range between $6-$8 which is seen as a major accumulation zone. As per on-chain data provider Santiment,
Chainlink’s shark & whale addresses (holding 10k to 1m $LINK) have been busy accumulating during the 2022 bear market. Since March 3rd, these addresses have added 47.31M LINK to their wallets, collectively. This translates to $312.7M more invested.
"Chainlink’s shark & whale addresses (holding 10k to 1m $LINK) have been busy accumulating during the 2022 bear market. Since March 3rd, these addresses have added 47.31M LINK to their wallets, collectively. This translates to $312.7M more invested."
Also, Chainlink’s social dominance has spiked recently showing that more and more traders are getting active in the crypto. One more altcoin seeing high whale activity over the last week is Litecoin. The Santiment report notes:
"Litecoin has been quietly under the radar in 2022, but address activity & whale transactions have exploded this week. Particularly with $1m+ valued transactions on the network, the timing of these spikes happened just as $LTC began rising vs. $BTC."
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