Whales accumulating Chainlink and KangaMoon, EigenLayer TVL swells
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Ethereum (ETH) has been popular due to the rise of EigenLayer, whose restaked asset base now stands at over $3.8 billion. While at it, whales ramp up their Chainlink (LINK) and KangaMoon (KANG) accumulation.
Ethereum restaking grows as EigenLayer surges
EigenLayer allows investors to earn more interest on their staked ETH by “restaking” them to secure other blockchains.Â
EigenLayer’s total value locked (TVL) rose by over 90% to $3.84 billion in the past week. The expansion results from the reopening of deposits and the lifting of staking limits.
Despite this, ETH gains have been marginal in the last week.
Chainlink whale accumulation exploding
LINK is up 19% in the past few weeks, reaching a high of $19.80.
Amid this, whales have been accumulating the token.
Because of this, 1% of top LINK addresses control almost 925 million tokens.
LINK has resistance at around $20. A break above this line could see the token float to $30.
KangaMoon set for gains in 2024
KangaMoon supporters are confident that KANG will outperform Chainlink and Ethereum in the coming bull cycle.
The platform is building a social finance (socialfi) network that combines play-to-earn (P2E), NFTs, and meme coins into one ecosystem.Â
KangaMoon rewards community members participating in challenges and giveaways with cash, KANG, and other digital assets.
SOLIDProof has audited the platform’s smart contracts, confirming they are secure.
In the current presale stage, KANG is trading for $0.005.
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