#Jelajahcoin - Chainlink ($LINK ) continues to show bullish performance in September 2023 with a YTD jump of 40%.
#Chainlink experienced a substantial increase in value, instilling feelings of hope among its investors.
In fact, Chainlink whales have been actively accumulating tokens and have raked in over $50 million worth of LINK in just two weeks alone.
According to data collected by leading crypto analyst – Ali Martinez, this group of investors has purchased more than 7.5 million $LINK tokens in the last two weeks, worth around $53 million.
Such an accumulation trend depicts positive sentiment among LINK whales as these entities potentially believe in the token.
Whalers believe that Chainlink (LINK) is undervalued at its current price and expect it to rise higher in the future.
The accumulation of whale entities coincides with the $LINK price appreciation seen over the past few weeks.
LINK's rise was steady, recording more than 32% on a monthly basis, which catapulted the asset to $7.8.
This price increase then pushed LINK's year-to-date increase to around 40%.
However, LINK is currently attempting to reclaim the 2023 top near $8.5.
This level has proven to be a strong resistance area as the asset faced several rejections since April.
Sustained buying activity, on the other hand, could reverse this long-term trend in favor of bulls.
