It appears that whales have turned bullish on Chainlink (LINK). They bought at low prices after the recent cryptocurrency market crash. According to famous crypto analyst Ali Martinez, crypto whales bought more than 6.2 million LINK coins in the past week.
This latest LINK acquisition is estimated to be worth about $76.88 million, at current prices. This is a notable development for the coin as it comes amid recent broader market trouble. Notably, LINK price has decreased by 17.17% in the past 30 days.
However, whales took advantage of this market decline. They have been actively buying LINK tokens at lower prices. The spike in whale activity for Chainlink shows that these traders are predicting a price recovery from the coin in the near future.
LINK price recovered.
Amid this increased whale activity, LINK price has also shown some strength today. Following last week's cryptocurrency crash, Chainlink's price is up 3.99% today. According to the latest data from CoinMarketCap, it is currently trading at $13.38. This price increase shows that LINK is heading towards a major recovery after receiving support from whales.
In addition to price, LINK trading volume increased 43.8% to $359.37 million. This is another positive sign for the coin, as it suggests it could achieve further price gains from this point on. The growing trading volume is showing growing investor interest in Chainlink.
