Chainlink (LINK) paints a bright picture for whale investors going forward, as it shows no resistance to their increase of nearly $2.2 billion LINK coins during the past seven days. The market has been staying positive with the token receiving a 5% boost even against the backdrop of a lackluster crypto market. A data analysis by IntoTheBlock showed that a considerable amount of LINK tokens were accumulated from about 29,000 different wallets. That summarized amount would be worth around the said value according to current LINK prices.
Wall Street veteran Ali Martinez shared his insights regarding single Chainlink token’s trajectory, noting a support zone of $6.63 to $6.88 – presumbly supported by a sizable group of whales taking advantage of a steady purchasing upon reaching that area. Additionally, whale investors probably used the same zone to accumulate an estimated 13 million LINK alone during the span of two weeks. The overall increase in activity was felt by quite some people being on the lookout for a typical breakout to take place, yet owing to low Network Activity as typical glimpses through possibly momentous accounts went from 527 to 118, the status quo doesn’t seem to be broken so far.
Therefore, piling support against bearish rulings was strikingly pervasive as Link traders resorted to many-sided purchase. Despite drops in Network Activity, there still might be potential for a more defining reaction surpassing singular transactions to potentially generate capital, further driving Link towards further summits such as seen not long ago when reaching just to $14.6 an individual token.
