The latest data from a leading crypto analytics firm say the number of large Chainlink (LINK) wallets has reached a new all-time high as the project’s native asset surges in price.

Santiment notes that the number of wallets holding at least 1,000 LINK reached a new record number of 27,152 on Sunday.

The firm also says that the increase in the count of large Chainlink wallets comes as the price of LINK rallied to a fresh 19-month high.

Source: Santiment/X

Chainlink is a decentralized oracle provider. The project’s native asset, LINK, cleared the $13.00 price level on Monday for the first time since April 2022 and is trading at $13.07 at time of writing. The 13th-ranked crypto asset by market cap is up nearly 8% in the past 24 hours and more than 72% in the past month.

Pseudonymous crypto analyst The Flow Horse says LINK could just be kicking off its uptrend.

“[People are] worried about buying LINK… because they feel they missed it. I think that between the $11.00 and $8.50 is going to look like a rounding error if we’re talking a year, two years into the future as the crypto market continues to grow.”

Large wallets aren’t just picking up LINK, according to Santiment. The analytics firm notes that wallets holding between 100,000 and 1 billion XRP now hold their highest level of the asset this year.

Source: Santiment/X

XRP is trading for $0.71 at time of writing, up nearly 9% in the past 24 hours.

Generated Image: Midjourney

The post Large Chainlink Wallets Reach New All-Time High as LINK Launches Parabolic Rally: Santiment appeared first on Crypto News Australia.

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Filed under: Bitcoin - @ November 7, 2023 9:32 pm