As coins all across the board tumbled today, even Chainlink did. For the first time after 1 January, LINK’s value fell below the $20 psychological level on Friday. After noting a 13% decline over the past day, this token was seen exchanging hands around $19 at press time.
Top ETH whale springs into action
Chainlink has always been a coin with strong fundamentals. In fact, its adoption rate has been increasing at an impressive rate of late, thanks to its latest partnerships.
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As highlighted in a recent article, last week alone, 17 projects adopted Chainlink across 7 different blockchains and 5 independent oracle services. Additionally, right from staking to launching the Cross-Chain Interoperability Protocol (CCIP), there’s a lot in store for Chainlink this year.
All these developments do make LINK a tempting token to HOLD for the long term. Well, it is a known fact that whales are known for capitalizing and filling their bags during dips.
Using the latest crash as a perfect opportunity, the second largest Ethereum whale wallet purchased as many as 99,999 LINK tokens during the early hours of Friday. A recent Whalestats’ tweet brought to light the same.
Well, LINK also managed to find a spot for itself in the ‘most used smart contracts’ among the top 1000 Ethereum wallets list. Leaving aside DAI, Chainlink’s usage over the past 24-hours had been the most, for it witnessed a 114.12% incline.
Assessing the wallet’s performance
The ETH wallet’s performance that purchased 99,999 LINK tokens has improved over the past week and has surprisingly managed to remain steady even amidst the downtrend environment. Among other tokens, the said wallet also possesses FTT, RON, and SRM.
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Almost all of the coins too were victims of the crash. While FTT has managed to lose 10% on the daily time frame, RON and SRM depreciated by approximately 12% each.
