Santiment stated that this situation of Chainlink (LINK), which exceeded $ 23, was caused by negative investor sentiments. In addition, a large Ethereum (ETH) whale received a large amount of LINK.
Santiment claimed that LINK exceeded $23, but this was due to negative investor sentiment. The on-chain analytics firm claims that the negative outlook since October has set the stage for a FUD and if the FUD around the altcoin project is fueled further, the LINK price may continue to rise.
"#Chainlink regained the $23 threshold in the early hours to start the week. This comes as the crowd has had the most sustained negative sentiment toward the asset since October. As long as euphoria is limited and #FUD is high, $LINK can thrive "
If we look at the annual performance of the Chainlink project, LINK reached its own ATH level in May, when the leading crypto Bitcoin soared above $63,000. In the process, Elon Musk announced that Tesla has suspended payments with Bitcoin. LINK bottomed out at $13.78 on July 20 and after that, the highest price LINK was able to reach was $34 on September 6 and November 11.
According to WhaleStats data, the 128th largest Ethereum whale bought 45,999 LINK for $1,034,075. With this value, LINK took the third largest share of the whale's wallet. The giant wallet's listing includes $302,199,360 (74,464 ETH), $33,408,654 Tether, $1,034,075 (45,999 LINK) and $5,890,050 USDC.
What is Chainlink?
Chainlink (LINK) is a decentralized oracle network that aims to connect smart contracts with real-world data. LINK, the chainlink decentralized oracle network's own cryptocurrency, is used to pay node operators. Node providers that fail to provide accurate information due to the reputation system of the Chainlink network will have their tokens reduced, while node providers with a high amount of LINK are rewarded with larger contracts. Its developers describe LINK as “an ERC20 token with ERC223 'transfer and call' functionality that allows tokens to be accepted and verified in a single transaction.” Following the $32 million LINK ICO in 2017, 32 percent of LINK tokens were sent to node operators to promote the ecosystem. Another 30 percent remained with Chainlink for development (35% sold in a public token sale).