New data by Santiment reveals that crypto wallets holding at least 1,000 Chainlink (LINK) grew by more than 445 in November. The on-chain data provider acknowledged that the number of high-end Link investors was on the rise.
The growing number of crypto whales
The crypto analytics company acknowledged:
“The amount of high-end Chainlink investors continue to grow, according to our ‘Holder Distributions’ data. There are 445 more addresses holding 1,000 or more LINK (currently at least $13,950), compared to last month.”
Whales in the crypto space are continuously hitting new highs. For instance, Santiment disclosed that Bitcoin whales linked to crypto wallets holding more than 10,000 BTC had surged to 111 by mid-November. The growing number of Chainlink whales shows the sixth-largest cryptocurrency based on market capitalization is not being left behind.
LINK Decentralized Oracle
As a decentralized oracle network built on the Ethereum network, LINK is making a name for itself by providing reliable tamper-proof data for complex smart contracts on any blockchain.
Chainlink is continuously making notable strides in the crypto space. For instance, in October, it partnered with Unstoppable Domains, a company building blockchain domain names, to establish a Twitter authentication service for crypto addresses. This new feature was to enable crypto users to quickly authenticate public social media profiles by verifying the address ownership through MyEtherWallet (MEW).
Later on, in November, Equilibrium, a decentralized cross-chain money market, chose Chainlink to power its synthetic assets, lending, and stablecoins. The decision to settle on Chainlink was propelled by its time-tested solution as a decentralized oracle provider.
Chainlink Price Feed was to be integrated into Equilibrium’s cross-chain money market called Polkadot. As a result, smart contracts were to avail accurate asset valuations needed in the issuance of loans, execution of synthetic asset trades, and price collateral.
The growing number of LINK whales shows this cryptocurrency is becoming a favorable investment tool.