Wednesday, September 27, 2023
HomeEthereumCrypto Whales Are Rapidly Accumulating Two Ethereum-Based Altcoins, According to Analytics Firm...

Crypto Whales Are Rapidly Accumulating Two Ethereum-Based Altcoins, According to Analytics Firm Santiment

A leading analytics firm says wealthy crypto investors are rapidly loading up on two ethereum-issued tokens (ethereum) blockchain.

Santiment says a crypto whale is swallowing Kyber Network (KNC), a blockchain-based exchange aimed at aggregating liquidity and facilitating instant swaps between ERC-20 tokens, without any middleman involvement.

The whale continued to accumulate KNC despite a sustained downward trend that saw the token lose more than 40% of its value in less than three months, according to the information firm.

“Kyber Network whales have been accumulating rapidly over the last three months, with key wallets holding between 1-10 million KNC, with an additional 20% of holdings since July 31st. The last time we saw seed accumulation, KNC grew +67% in 6 months.”

sauce: Santimento/Twitter

As of this writing, KNC is trading at $0.876, up over 4% in the last 24 hours.

Santiment also says wealthy investors are getting their hands on the decentralized oracle network Chainlink (Link). The number of whales with LINK is now at its highest in five years, according to the analytics firm.

“Chainlink has seen the number of whale addresses continue to grow as prices crossed $7.00 on Sunday. The amount of addresses holding more than $700,000 is at 458 addresses. This is the highest number since 2017, the year we went public.”

sauce: Santimento/Twitter

At the time of writing, LINK is valued at $7.07, up 2.35% on the day.

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Featured Image: Shutterstock/NineTamagot/VECTORY_NT

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