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08/11 02:01

Chainlink, the biggest oracle network in the crypt

Chainlink, the biggest oracle network in the crypto industry, has been in a strong uptrend in the past few days. One catalyst for this is on-chain data showing that whales have gone on a buying spree recently.

Nansen data shows that LINK whales hold 4.53 million tokens, a 21% monthly increase. Their holdings have jumped by 41% in the last 90 days, a sign that they see the upward momentum continuing.

The soaring whale buying coincided with the ongoing plunging of its exchange balances. These reserves have plunged to 273 million, down from a high of 281 million last month.

Chainlink price continued rising after the developers announced its accumulation strategy. It will now use its on-chain revenue and enterprise revenue to buy more LINK tokens. This buying is expected to gradually boost its tokens over time.

Chainlink has emerged as one of the most important players in the crypto industry. It operates the biggest oracle in the crypto industry, connecting off-chain data to the on-chain. For example, it recently launched data streams for US equities and ETFs.

Chainlink is also a major player in the real-world asset tokenization industry, where its CCIP product helps to connect data across multiple chains.

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