Ethereum Whale turns to Chainlink. Here’s why

Paigambar Mohan Raj
whales buying
Source: elevennews

Chainlink seems to be on its way up again. As per the data provided by WhaleStats, an Ethereum whale just bought 330,000 Chainlink (LINK), worth a breathtaking $6 million. The whale in question now has over $55 million worth of LINK in its wallet. 

Chainlink, moreover, saw a jump in its price as well. At the time of publication, LINK was trading at $19.26, up by 2.8%. So, what really is the reason behind the recent excitement around LINK. 

The biggest development in LINK’s realm is the Oracle Olympics #1, which kicks off today (8th February). The Chainlink Oracle Olympics is a three-week competition that aims to find the next generation of community node operators who can best deal with the obstacles of running a high-quality oracle node. The winning team will be able to keep their nodes running 24/7 through all the various adverse network conditions thrown at them throughout the weeks.

Additionally, the Chainlink Verifiable Random Function (VRF) has been implemented into Defina’s new Mystery Box V4 smart contract. This was done to support their Fair Hero NFT mining process. Not only Defina, but also Megladoge Gaming has also integrated Chainlink’s VRF on the Binance mainnet to better serve its purpose. 

Source: Megladoge Gaming

Moreover, Chainlink has also launched their FLOW/USD price feed on Ethereum, enabling FLOW to expand the utility of their token. 

Not only that, Chainlink Pricing Feeds have recently been adopted by Recast1, a non-fiat stablecoin protocol, to gain access to high-quality, tamper-proof price feeds. Users may be certain that prices quoted in the Recast1 App are based on internationally accurate market data from Chainlink’s highly secure decentralised oracle network, thanks to this update.

A point to note is that the Ethereum whale’s LINK holdings make a measly 1.5% of its total holdings. The biggest token in possession of this whale is none other than FTX, which takes a massive 46.61% of the wallets assets, coming in at an incredible $1,717,005,060! Other tokens which have a sizable chunk in the wallet are Ethereum, worth almost $700 million, RON worth a little less than $600 million, USDC worth $173.6 million, USDT worth $139.6 million, and XMAS worth $54.9 million.