LINK is regularly collected by dozens of wallets that are believed to be part of a major institution. An institution that got $112 million worth of LINK through 55 wallets at the beginning of February is still opening new wallets and receiving LINK, according to information given by the on-chain data portal Lookonchain.

Transferred to 83 wallets

According to Lookonchain; New wallets opened actually belong to an unknown institution, and the number of Chainlink (LINK) purchased by this institution in the last two weeks alone has approached $11 million 100 thousand (approximately $220 million). In other words, after the first purchase of $112 million, an additional $100 million was made. The purchases were made through Binance and the tokens were then transferred to these newly created 83 wallets. LINK is currently trading at a level of $19, despite only increased by 30% in February.

Increase started after Swift Experiment

As you may remember, Chainlink tried the interoperability protocol CCIP together with SWIFT, a secure messaging system that enables international money transfers, and was successful. Experiments involving several major institutions, including BNP Paribas, Citi, and BNY Mellon, effectively moved tokenized assets of traditional financial investment instruments between different blockchains.

According to experts, the fact that these experiments were successful opened the door for traditional financial assets to become part of blockchain networks.

After the success of these experiments, which were completed in August, there were significant increases in the price of Chainlink. In around six months, Chainlink, which traded for about $5 at the time, increased four times.