Chainlink Enters Top Ten Assets on Ethereum Based on Trading Volume
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According to the on-chain wallet tracker of WhaleStats, Chainlink (LINK) has risen to the top of the list of the top 10 assets on the Ethereum (ETH) chain in terms of trading volume over the last 24 hours.
JUST IN: $LINK @chainlink now on top 10 by trading volume among 500 biggest #ETH whales in the last 24hrs 🐳
Peep the top 100 whales here: https://t.co/tgYTpOm5ws
(and hodl $BBW to see data for the top 500!)#LINK #whalestats #babywhale #BBW pic.twitter.com/sWcKdXRjoe
— WhaleStats (tracking crypto whales) (@WhaleStats) December 6, 2022
However, the price of the cryptocurrency has failed to reflect this impressive development, as LINK trades down by 6% over the past 24 hours and by 8% in the past seven days, according to data from CryptoMarketCap.
According to a recent tweet from WhaleStats, the top 500 Ethereum whales have included LINK as one of the cryptocurrencies they have traded the most in the last day.
As previously reported, large investors of cryptocurrency (whales) on the cryptocurrency market, have recently started acquiring sizable amounts of LINK.
According to information provided by the Lookonchain Twitter account over the past two weeks, a number of sizable transactions were observed as big whales (including financial institutions) added LINK to their wallets.
The recent release of the staking feature by Chainlink developers was unquestionably the catalyst for these large transactions.
Chainlink Staking Goes Live on Ethereum
#Chainlink Staking v0.1 launches December 6th at 12PM ET.
The official web page to stake your LINK will be located at https://t.co/Gdt5FiQmOR
Make sure to bookmark this page and verify the URL when v0.1 launches to help protect yourself against spoofing and phishing websites.
— Chainlink (@chainlink) December 5, 2022
Chainlink Staking launched yesterday amid fanfare and expectations. In a recent Twitter post, Chainlink noted:
“Chainlink Staking v0.1 Early Access is now live on Ethereum mainnet!
The initial 25M staking pool is available for early access, so stake your $LINK today to secure your spot and earn rewards for securing the Chainlink Network & larger Web3 ecosystem!”
At press time, the project has over 10.4 million stakers of the target 22.5 million in the community pool. Chainlink Staking promises stakers a 4.75% reward rate.
The inclusion of LINK staking is likely to increase investor interest in the asset, as many supporters hope to profit from aiding in network security.
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