Chainlink ($LINK) has experienced nearly a month of consistent negative exchange netflows, signaling a strong trend of accumulation.
This indicates that holders are withdrawing their assets from exchanges and moving them into cold storage or private wallets, reducing immediate sell pressure on the market.
$LINK has seen consistent negative exchange netflows for almost a month, indicating sustained withdrawals from exchanges.
This trend often signals accumulation, as holders move assets to cold storage or private wallets, reducing immediate sell pressure. pic.twitter.com/iDLqEPbt0E
— IntoTheBlock (@intotheblock) October 23, 2024
A notable example is address 0x9cE…55d0A, which has quietly accumulated 222,677 $LINK over the past two months, valued at approximately $2.55 million. The average cost for these tokens? Just $11.50 per $LINK, a clear sign of strategic buying during the current market conditions.
Address 0x9cE…55d0A has quietly accumulated 222.677K $LINK over the past two months, worth a cool $2.55 million. The cost? Just $11.5 per token!
Wallet address: 0x9cE496E69626E29377c85152ED40767f12c55d0Ahttps://t.co/xreI4p4q7K pic.twitter.com/IBC37IxrMr
— EyeOnChain 🔶 (@EyeOnChain) October 23, 2024
In other major news, Chainlink, a leading decentralized oracle provider, is set to introduce a groundbreaking blockchain payment solution in collaboration with Swift, the global messaging network widely used by financial institutions.
This new integration will allow institutions to utilize Swift messages to interact with blockchain technology, facilitating digital asset settlement with minimal adjustments to their existing infrastructure.
Chainlink’s Strategic PartnershipsÂ
The integration between Chainlink and Swift will act as a bridge between decentralized finance (DeFi) and traditional finance (TradFi), bringing the two worlds closer together. This move is expected to streamline financial transactions and broaden the use cases for blockchain in the financial sector, making it easier for institutions to adopt decentralized technologies.
Decentralized Oracle provider @chainlink will introduce a new blockchain payment solution for financial institutions.
In collaboration with Swift, a global messaging network used by banks and institutions, Chainlink revealed a new integration enabling institutions to use Swift… pic.twitter.com/Bcc1mo1UlP
— ICO Drops (@ICODrops) October 23, 2024
With ongoing accumulation trends and the introduction of cutting-edge solutions for the finance industry, Chainlink is positioning itself as a key player in the evolving blockchain landscape, strengthening its role as a bridge between DeFi and TradFi. As institutional interest continues to grow, $LINK holders may see significant long-term benefits from these strategic developments.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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