Chainlink Whales Accumulate $24 Million in LINK Tokens Following SWIFT Collaboration

• Chainlink whales have significantly increased their holdings by acquiring 4 million LINK, worth $24 million, in just 10 days.
• This accumulation by whales is seen as a response to the SWIFT-Chainlink collaboration announcement, which demonstrated the ability to move tokenized value across multiple blockchains.

Chainlink whales have made a significant move in the cryptocurrency market by accumulating a massive 4 million LINK tokens, valued at an impressive $24 million, in just a span of 10 days. This remarkable surge in holdings has drawn attention to the joint blockchain experiment between the Interbank communication system SWIFT and Chainlink, announced on August 31. The successful collaboration demonstrated the seamless movement of tokenized value across multiple blockchains.

Crypto analyst Ali, referencing data from Santiment, highlighted the rapid accumulation of LINK tokens by Chainlink whales. This accumulation appears to be a direct response to the groundbreaking collaboration with SWIFT. In just 10 days, whales acquired a staggering $24 million worth of LINK tokens, signaling their confidence in the partnership’s potential.

Santiment’s data, as of September 7, reveals a significant increase in Chainlink’s primary shark tier wallets, which hold between 10,000 and 100,000 LINK tokens. There are now over 3,127 wallets in this tier, marking the highest number since December 2022. These wallets collectively accumulated $9.6 million worth of LINK in just three days, representing 0.154% of the total LINK supply. Additionally, 98 new wallets within this range were added, underlining the growing interest in LINK among large holders.

Sergey Nazarov, the founder of Chainlink, expressed optimism about the partnership with SWIFT. He believes that major financial institutions now recognize the value of tokenization, marking a pivotal moment for blockchain adoption in capital markets. Nazarov emphasized that “the next frontier of finance is on-chain, and Chainlink is the gateway.”

LINK’s Price Action

While Chainlink whales have been accumulating LINK tokens, the cryptocurrency’s price has experienced a slight dip, currently trading at $6.11, down by 2.27% over the last day. This price movement may indicate that whales are taking advantage of lower prices to further increase their LINK holdings. Technical analysts are closely monitoring the charts for a potential ‘death cross,’ a phenomenon that has previously led to a rebound in LINK’s price.