Crypto whales are rapidly accumulating two Ethereum-based Altcoins, according to Analytics firm Santiment
A leading research firm says deep-pocketed crypto investors are quickly loading up on two tokens issued on the Ethereum (ETH) blockchain.
Santiment says crypto whales are gobbling up the Kyber Network (KNC), a blockchain-based exchange that aims to pool liquidity and facilitate instant exchanges between ERC-20 tokens, all without the involvement of any middlemen.
According to the intelligence firm, whales continued to accumulate KNC despite its persistent downward trend that saw the token lose over 40% of its value in less than three months.
“Kyber Network whales have accumulated rapidly over the past three months, with key wallets holding one million to 10 million KNC adding 20% of their supply to their holdings since July 31. The last time this type of accumulation was seen, grew KNC +67% in six months.”
At the time of writing, KNC is trading hands at $0.876, up over 4% in the last 24 hours.
Santiment also says deep-pocketed investors are getting their hands on the decentralized oracle network Chainlink (LINK). According to the research firm, the number of whales holding LINK is currently at a five-year high.
“Chainlink sees the number of whale addresses continue to rise as prices reached above $7.00 on Sunday. The number of addresses holding $700,000 or more is at 458 addresses. This is the most since 2017, the year of the opening of public trading.”
At the time of writing, LINK is valued at $7.07, up 2.35% on the day.
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