HomeNewsChainlink Whales Pounce on Accumulation Opportunity After SWIFT Success

Chainlink Whales Pounce on Accumulation Opportunity After SWIFT Success

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  • Chainlink whales accumulate over $24 million worth of LINK following the successful experiment with SWIFT.
  • Chainlink’s collaboration with SWIFT promises to be a game-changer in blockchain adoption for capital markets.

In light of Chainlink’s significant stride alongside SWIFT, remarkable activity among Chainlink whales has been observed. Crypto analyst Ali recently tweeted about this activity, emphasizing a massive purchase by these whales in recent days, drawing attention to a tweet by Ali Chart.

Rapid Accumulation Post SWIFT Collaboration

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Ali, by referring to data from Santiment, highlighted that Chainlink whales acquired a colossal 4 million LINK amounting to an impressive $24 million within a mere span of 10 days. This accumulation spree appears to be a direct response to the news unveiled on August 31, about the joint blockchain experiment between the Interbank communication system SWIFT and Chainlink. The outcome of this significant collaboration showcased the ability to move tokenized value across multiple blockchains seamlessly.

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Further data presented by Santiment on September 7 unveils an uptick in Chainlink’s primary shark tier wallets, holding between 10,000 and 100,000 LINK. There’s been a remarkable growth in these wallet addresses, with over 3,127 wallets in this tier, the highest since December 3, 2022. In just three days, these addresses accumulated a substantial $9.6 million worth of LINK, representing 0.154% of the total supply. Besides, a noteworthy addition of 98 new wallets was observed within this range.

The Future of Chainlink and SWIFT

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Chainlink’s founder, Sergey Nazarov, expressed optimism about the partnership with SWIFT. He believes that the value of tokenization is now evident to major financial institutions, signifying a pivotal moment for blockchain’s adoption in the capital markets. “The next frontier of finance is on-chain, and Chainlink is the gateway,” Nazarov shared in a post dated September 8.

Meanwhile, LINK’s price has seen a slight dip, currently trading at $6.11, down by 2.27% over the last day. This price action could be indicative of whales taking advantage of lower prices to accumulate more LINK. Technical analysts are closely watching a potential ‘death cross’ on LINK’s charts, a phenomenon which previously led to a rebound in LINK’s price.

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Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
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