Whale accumulates millions dollars LINK, token price surges 28%

Cryptocurrency whales have been traced to have accumulated hundreds of thousands of LINKs on the past day of trading.

According to CoinMarketCap data, Chainlink (LINK) has recorded a surge of up to 28% from $19 to $24, with the volume of trading meteorically increasing to 932% in just a day.

The market capitalization performed very well, with $15 billion, and it flipped Bitcoin Cash (BCH) and Hedera (HBAR) positions to $10 billion and $14 billion, respectively.

In a month, this token even outperformed Bitcoin (BTC), soaring 126%, while the biggest cryptocurrency in the world only grew 40% due to the $100,000 price target that has not been achieved yet.

According to Lookonchain X’s post on Dec. 03, in the past 12 hours, crypto whale has accumulating $6.6 million or equal to 269,861 tokens.

“The whale spent $2.6M to buy 107,838 $LINK at $24.1 on DEX and withdrew 162,024 $LINK ($4.08M) from #Binance,” mentioned on X’s post.

The market sentiment towards this decentralized blockchain oracle network were bullish up to 80%, while the rest of them are still bearish for the future’s projection.

LINK price projections to $150

Numerous crypto traders has optimistic after the company behind the token was collaborating with financial global system and institutions, including Swift and Microsoft.

Global Macro Investor (@ProdDesignerSam) on X’s post, is one of the traders who are believe in use case of LINK and target the price up to $150. He mentioned this is one of the project which “publicly endorsed by the bank and multi-billion dollars institution to tokenize trillion of value”.

Chainlink also known as the company behind financial asset managers in the world JPMorgan and UBS. The function is to bridge the traditional finance (TradFi) with the digital world and tokenized their asset into blockchain.