Santiment said This Altcoin is Ahead of Others: Pay Attention to 3 Billion Wallets! - Coin Bulletin

After the recent decline, one altcoin showed signs of recovery before other altcoins, while analysts pointed to $3 billion worth of data to be monitored for the next price movements.

On-chain data and analysis platform Santiment indicates that Chainlink recovered before other altcoins after the market-wide drop on Tuesday and pointed out that significant investors made noteworthy moves during this period, suggesting that monitoring the movements of the largest 5 LINK wallets considering the current market volatility. These wallets hold a total of 2.93 billion dollars worth of LINK, continuing their growth trends.

According to Santiment data, LINK quickly recovered to $15.25 after dropping to $13.18 with the general market decline on Tuesday. This rise occurred with unusually high volume and volatility.

It is especially noted that the largest 5 LINK wallets are showing a growth trend despite market conditions and holding 18.15% of Chainlink's total supply. Continued accumulation of LINK by major investors may reduce the selling pressure and create a stronger resistance in the market.

Santiment believes that this volatility may lead to short-term fluctuations and that whales' strategies could have a decisive impact on the price. Additionally, it recommends investors to closely monitor the movements of these large wallets in order to understand the market direction.