Large Chainlink Bag Holders Swell as Oracle Company Creates LINK Reserve
Main Idea
Chainlink announced the creation of a LINK reserve funded by its revenue streams, which has already attracted $1 million worth of LINK, while large holders have increased their holdings significantly.
Key Points
1. Chainlink launched a LINK reserve funded by its on-chain and off-chain revenue streams.
2. The reserve has already attracted $1 million worth of LINK.
3. Large holders (wallets with 100,000 to 1,000,000 LINK) increased their holdings by 4.2% in August, accumulating 0.67% of the supply (approximately $85 million worth).
4. Exchange reserves for LINK dropped from 180 million to 147 million tokens, indicating a negative supply shock.
5. The reserve aims to improve the growth, security, and stability of the Chainlink ecosystem.
Description
Crypto oracle Chainlink’s newly established LINK Reserve attracts $1 million as whales accumulate 0.67% of the token’s supply.
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