ChainLink Surges 14% as Whales Snap Up $116M in LINK

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Written by Harshit Dabra Updated:
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Reviewed By Reviewed By Rekha Sharma
Chainlink News

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ChainLink (LINK) surges 13.6% in the last 24 hours, leading a rebound in the cryptocurrency market from last week’s downturn. On-chain data from Lookonchain reveals that since October 11, 30 new wallets have withdrawn 6.26 million LINK (~$116.7M), suggesting whale accumulation.
ChainLink Labs’ Q3 report notes significant partnerships with Swift, the DTCC, and Euroclear, as well as a pilot partnership with the U.S. Department of Commerce as part of efforts to bring government data on-chain via its decentralized oracle network. ChainLink aims to expand from a decentralized oracle provider into a full-stack infrastructure for tokenized and real-world assets.
ChainLink is by far the dominant technology in the space for oracles, with a total value secured (TVS) of $62B (62% of market share) compared to Chronicle with $10B TVS. Increasing institutional activity and the presence of whales seem to play into building confidence about LINK’s utility long-term.

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Written by Harshit Dabra Research Analyst at Times Crypto

Harshit Dabra is a blockchain researcher and crypto analyst with over four years of experience in the cryptocurrency space. From smart contract development to market analysis and protocol research, he has worked across multiple layers of the Web3 stack.