All eyes are on these 2 altcoins: Whales are accumulating like crazy

Cryptocurrency analysis firm Santiment reports that wealthy cryptocurrency investors are frantically piling up uploads to two altcoins running on the Ethereum (ETH) blockchain.

Swarm of whales to KNC

Cryptocurrency analysis firm Santiment says crypto whales have gathered like crazy on Kyber Network (KNC), a blockchain-based cryptocurrency exchange that aims to pool liquidity and facilitate exchanges between ERC-20 tokens. Instant transactions without any middlemen. According to the analytics firm, crypto whales continue to accumulate KNC despite the ongoing downtrend that has caused the altcoin to lose more than 40% of its value in a fairly short three-month period:

Kyber Network whales have rapidly increased their holdings over the past three months, with major wallets holding between 1 million and 10 million KNC, increasing their holdings by 20% since July 31. The last time we saw this type of accumulation, KNC was up more than 67% in six months.

At the time of writing, KNC is trading at $0.9008, up 6.90% in the past 24 hours.

Second altcoin targeted by whales: LINK

Santiment also reported that wealthy cryptocurrency investors are flocking to decentralized oracle network Chainlink (LINK). According to the analyst firm, the number of whales holding LINK has now risen to the highest level in the past 5 years:

Chainlink saw the number of whale addresses continue to increase as prices surged above $7 on Sunday. The number of addresses holding $700,000 or more has grown to 458. This is the highest level since 2017, the open year for public trading.

At the time of writing, the Chainlink network’s native asset, LINK, is trading at $7.20, up 5.37% over the past 24 hours. Although LINK is facing an influx of whales, its current price is 86.37% below its all-time high of $52.88 on May 10, 2021.

Source of information: Compiled from COIN-TURK by 0x information.The copyright belongs to the author Ömer Ergin and may not be reproduced without permission

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