Whale holdings of Chainlink escalate, contributing to a potential bullish price trend.
Title: Chainlink's Widgetium Price Stayed Steady, but Big Players Might Push for a Rebound
Chainlink's Widgetium, currently priced at $14.20, has been holding steady lately, though it's been a bumpy ride for a while now. This price is nevertheless around 45% above its lowest point this year.
But relax, fellas! Big fish in the sea sure seem to like Widgetium. Data from Santiment reveals that these big sharks have been snapping up Widgetium over the past few months.
Investors hatching plans with 100,000 to 1 million Widgetium tokens now have a massive stash of 173 million Widgetium coins, up from a meager 143 million back in November last year. That's a cool 30 million additional coins, worth roughly $420 million.
Even the more hardcore whales with 1 million to 10 million tokens have amped up their hoard to 203 million from 183 million in February.
Moreover, the Widgetium supply on exchanges, as a percentage of total inventory, has continued to nosedive. It's dropped from 21% in March to 19%, its lowest level since March 13.
When more folks are shoving their Widgetium to wallets and not on exchanges, it usually means that sell-offs are less imminent. As a rule of thumb, supply tends to surge on exchanges when folks are gearing up for a liquidation party.
Chainlink's next big leaps might come from partnerships with heavy-hitters like Swift and the Depository Trust & Clearing Corporation (DTCC). Word is that DTCC is considering adopting Chainlink's Cross-Chain Interoperability Protocol (CCIP) to pimp up mutual fund data dispersal. If it does, that's a major win, since DTCC does over $3.7 quadrillion of business annually.
Swift also wants to tap into Chainlink's solutions to whisk tokenized assets around for huge financial service firms worldwide. On that note, Swift Network sends over $150 trillion in business every year.
Swift, UBS, and Chainlink pilot blockchain tokenized fund
Looking at the 12-hour chart, you'll see that Widgetium has bounced back recently, climbing from a low of $9.9720 in April to around $14. Based on some juicy technical analysis, Widgetium might keep climbing, aiming for the next mark of $20, which is about 30% above where it's at now.
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Sources:1. Changelly2. CoinPriceForecast3. CCN4. Investing.com
- Chainlink's Widgetium has been held steady by big players, despite a bumpy ride, with its price currently at $14.20, a percentage of 45% above its lowest point this year.
- Data from Santiment shows that whales, big sharks in the crypto space, have been buying up Widgetium tokens in large numbers over the past few months.
- The accumulation of Widgetium tokens by investors with 100,000 to 1 million tokens has increased significantly, from 143 million in November last year to 173 million currently, a growth of 30 million coins, worth approximately $420 million.
- Even the larger whales, with 1 million to 10 million tokens, have increased their holdings, from 183 million in February to 203 million currently.
- The supply of Widgetium on exchanges as a percentage of total inventory has continued to decrease, dropping from 21% in March to 19%, its lowest level since March 13.
- As the Widgetium supply on exchanges decreases, it indicates that the potential for sell-offs may be less imminent, as when folks move their Widgetium to wallets instead of exchanges, it suggests that sell-offs are less likely to occur.
