According to analytics firm Santiment, wealthy investors have been buying up millions of Chainlink (LINK) after a sudden drop in price to a three-year low. Wallets holding between 1,000 to 100,000 Chainlink accumulated 3.9 million LINK, worth about $20 million, during the last week. This activity marked a record high for 2023.

Santiment is also keeping an eye on Cardano (ADA), which may have reached its "buy the dip" zone after a crash on the weekend. The altcoin market appears to be stabilizing this week after plummeting over the weekend due to the SEC suing Binance and Coinbase for alleged securities violations.