On-chain data indicates that large Ethereum network entities have acquired the decentralized oracle service Chainlink (LINK) over the past 14 days.
According to the blockchain tracking firm Lookonchain, 30 addresses, which may represent the same individual, have amassed 2.6 million LINK tokens for almost $18.5 million worth of LINK tokens from the crypto exchange Binance.
Seven of Chainlink’s services, including Arbitrum, Avalanche, BNBChain, Ethereum, Optimism, and Polygon, were integrated into six different blockchains within the past week, according to Chainlink.
At present, the value of LINK stands at $7.42, reflecting a rise of 2.7% during the day.
Additionally, Lookonchain observed Ethereum whales making significant trades over the weekend. According to the company, a whale sent over $50 million in stablecoins to Binance in two separate transactions on Saturday and has made one large ETH purchase to date.
Crypto whales, as previously reported by Lookonchain, helped the privacy-focused altcoin MASK token beat the majority of the digital asset markets in March by driving up its price.
