Santiment, a leading analytics firm, recently reported that Crypto Whales (institutional crypto investors) are rapidly accumulating two tokens issued on Ethereum.
Santiment claims that Crypto Whales are diving deeper into Kyber Network (KNC) — a decentralized exchange aiming to aggregate liquidity and facilitate swaps between ERC-20 tokens without an intermediary.
According to the Analytics Firm, crypto whales continue accumulating more KNC despite facing a downturn; the token lost 40% of its value in less than three months.
Also, a few days back, a Quant analyst reported that crypto whales and key Bitcoin stakeholders were aggressively accumulating BTC because it was still worth $20,000.
Crypto Whales Accumulate KNC And LINK
Seeing how crypto whales continue to acquire KNC despite losing value, Santiment explained, “Crypto whales that accumulated KNC rapidly in the last three months have a range of one million to 10 million KNC in their wallets.”
“They have had 20% of the supply of KNC since July 31st. The last time KNC faced this accumulation level, it increased by +67% in six months.”
KNC is worth $0.910, up over 1.1% in the last 24 hours.
Also read:Aside from KNC, Santiment reports that the crypto deep-pocketed investors are also getting their hands on Oracle network Chainlink (LINK) tokens.
Additionally, the analytics firm says that the current number of crypto whales holding LINK tokens is at a five-year high.
Santiment says, “Chainlink continues to witness a rise in crypto whale address as its price keeps rising and reaches over $7.00 earlier in the week.”
“In addition, the number of addresses that holds $700,000 or more is about 458. This scenario has been the highest since 2017 — LINK’s launch year.”
Currently, LINK is worth $7.09, with a 0.58% decrease within the day.
Crypto Whales Accumulates BTC At $20,000 Aggressively
A few days back, a Quant analyst reported that crypto whales and two major Bitcoin stakeholders were aggressively accumulating BTC at its current level despite its uncertainty.
Moreover, the head of Crypto Quant — Ki Young Ju, tells his 308,400 Twitter followers that crypto whales are acquiring loads of BTC through Binance — the top digital asset exchange. In his words, “Whales are collecting BTC through Binance.”
Binance spot trading volume dominance skyrocketed since Bitcoin hit the $20,000 level. It is now at 84%.
Following Binance is Coinbase, which is at 9% — a massive gap between them. Ki Youn Ju also said he is unsure where these crypto whales are institutions using prime brokers to purchase their cryptos.
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