ChainLink’s Top 100 Whales Continue Accumulating LINK Offline

Quick take:

2020 has seen the top 100 ChainLink whales continue to accumulate LINK offlineThis hints of increased confidence in the future price of LINKZeus Capital still maintains ChainLink is vaporwareChainLink is once again above $11 and could have a hard time recapturing $12 amidst a very bullish Bitcoin

2020 has been a year of accumulating LINK for the top 100 ChainLink whales. According to data from Santiment, this particular group of LINK investors has added to their bags 34.32 Million tokens since the year began. The accumulation is also happening outside regular crypto exchanges thus hinting that they are playing the long game with LINK.

The increased confidence of the top 100 ChainLink whales was highlighted via the following tweet by Santiment. Within the tweet, is a chart that shows the growth of Chainlink tokens stored offline (brown/grey line) charted against the price of LINK (green).

?? If this isn’t the depiction of steady accumulation for #Chainlink’s top 100 non-exchange whales in the past year, we don’t know what is. $LINK’s offline increase in tokens at this rate truly shows confidence in the asset from those with most at stake.

— Santiment (@santimentfeed) October 31, 2020

Zeus Capital Maintains that ChainLink is Running out of Steam

However, despite the clear accumulation by the top 100 ChainLink whales, the team at Zeus Capital still maintains that the project is vaporware. Key to their argument is that development on ChainLink is slowing down despite the project having an ‘abundance of capital, upcoming new features and seemingly weekly integrations’.

The team at Zeus Capital laid forth this side of their argument regarding Chainlink via the following tweet.

#Chainlink has abundance of capital, ambitious upcoming features and seemingly weekly integrations. Isn’t it odd that the development is slowing down?

— Zeus Capital (@ZeusCapitalLLP) October 21, 2020