Chainlink, Polkadot and Shiba Inu share a very volatile price. Here is the latest news on them that has helped to move their value.
Whales have added 15.2% more LINK (Chainlink) tokens to their wallets over the past 4 months.
Chainlink news: price declines and whale movements
This was revealed by Santiment, who analyzed the amount of LINK tokens held by addresses holding between 1 and 10 million LINK tokens and found that they now own 16.8% of the entire supply.
🔗🐳 #Chainlink sits at a modest $25.70, but whale traders are staying busy & adding to their bags. Addresses with 1M to 10M $LINK now own 167.7M tokens worth $431M. In the last 4 months, through this volatility, these whales have added 15.2% more $LINK. https://t.co/MJcXwUTvz0 pic.twitter.com/N8xqjE240s
— Santiment (@santimentfeed) October 19, 2021
The accumulation of Chainlink tokens on these addresses began at the end of June, after the price had fallen significantly since reaching an all-time high.
The highest price ever recorded by LINK was $52.7 on May 10, and since then it has fallen to a low of under $14 a couple of months later.
On June 23 it dropped below $17, and from there the accumulation phase of the whales began, with a first peak right around July 20, when the price dropped below $14.
After a brief drain, they started accumulating again from late July, when the price rose back above $19.
One of the highest accumulation peaks occurred in mid-September, when the $35 price was heading back towards $21, making it clear that these whales accumulate especially during price declines.
Now LINK is hovering around $26, which is about half of its all-time high.
It is worth noting that in recent months it has not only dropped out of the top 10 cryptocurrencies with the highest market capitalization but has even slipped to 18th place, surpassed even by Avalanche (AVAX).
The latest news on Shiba Inu
Probably the most sensational overtaking has been that of Shiba Inu (SHIB), which has risen 260% in the past month.
Shiba Inu has recovered a great deal since the end of September, when it had fallen to 80% below the highs of a few months ago. Now, however, the price is only 25% below the highs, thanks to the incredible and extremely fast rise in October.
To tell the truth, however, back in May, when it reached an all-time high, the rise was extremely rapid, with a jump of 2,400% in practically one week, but this was followed by a real collapse.
The price of Polkadot (DOT)
Among the major cryptocurrencies, the one that has performed best over the past week has been Polkadot (DOT), with +20% in seven days.
Its value is now only 17% below its all-time high of May 15, and has already nearly quadrupled from its $11 high of July 21, as it has now crossed the $40 mark again.
It is possible that if Bitcoin’s run continues, it will also take altcoins with it, including those that have already performed well in the first twenty days of October.