LINK whale activity rises as large transfers hit 5-month high

Large LINK transfers and whale holdings both increased, pointing to rising whale activity, according to an analysis by Santiment. The on-chain analytics firm said 246 LINK token transfers worth more than $100,000 were recorded over the past 24 hours, the highest level in the past five months. Santiment added wallets holding between 100,000 and 10 million LINK now hold about 466.31 million LINK, accounting for 46.57% of the token’s total supply. The simultaneous rise in large transfers and whale holdings suggests whale activity has picked up, it said. Such whale movements have historically often been associated with price action and are often interpreted as an "alpha" signal. According to CoinMarketCap, LINK was trading at $8.77, up 1.59%, at the time of writing.