Over the past 24 hours, Chainlink (LINK) has seen a significant increase in whale activity and price. In the past day, whale activity on the Chainlink network has skyrocketed by an astonishing 1,219%, coinciding with a sudden 31% jump in the price of LINK.
At the time of writing, LINK is trading at $13.47, following a sharp rise in yesterday's trading session. Chainlink rose from $18.58 to $26.92, forming a massive green daily candlestick in Monday's trading.
At the time of writing, LINK was up 28% in the last 24 hours to $25.12 and up 47.51% in the previous week.
IntoTheBlock reported a 1,219.46% increase in the volume of large transactions — defined as transfers over $100,000 for Chainlink — over the last 24 hours. This surge is marked by large transactions totaling $858.08 million, or 34.34 million LINK.
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Large Transaction Volume indicates the overall amount transacted by whales in a given day. Spikes in Large Transaction Volume indicate high activity among whales, either buying or selling.
This 1,219% surge in whale activity suggests that whales might be either accumulating LINK or making deliberate moves to capitalize on the price rally.
Chainlink expands ecosystem
Chainlink has continued to grow its ecosystem through high-profile integrations and collaborations, including those with Swift, Euroclear and major banking and capital markets institutions.
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Brazil's central bank is using Chainlink to build a CBDC project for trade finance with Microsoft.
Chainlink, in collaboration with market infrastructures Euroclear and Swift and some of the world's largest financial institutions, including UBS, Franklin Templeton, Wellington Management, CACEIS, Vontobel and Sygnum Bank, launched an industry initiative to combine advancements in AI, Oracles and blockchains to solve a long-standing problem in corporate actions — the lack of real-time standardized data in fragmented markets, such as Europe.
Chainlink's CCIP private transactions just went live, with ANZ Bank being among the first to use the capability.
