Chainlink (LINK) Frenzy: 🐳 New Whales Dive into Massive Accumulation! 🚀

New Whales Accumulate Chainlink (LINK) Tokens from Binance

Blockchain tracking firm Lookonchain has reported that several deep-pocketed entities have recently acquired a significant amount of Chainlink (LINK) tokens, the native asset of the decentralized oracle provider. These whales withdrew a total of $16.72 million worth of LINK tokens from Binance, the world’s largest cryptocurrency exchange. Lookonchain observed this activity and noted that it indicates a surge in buying pressure for LINK.

Whales Buying LINK

Lookonchain discovered that eight new wallets had withdrawn 831,160 LINK tokens, equivalent to $16.72 million, from Binance within a span of two days. This suggests that these whales are actively purchasing LINK tokens.

Whales Accumulating LINK

Lookonchain has been tracking the accumulation of LINK tokens by “mysterious” whales, which are likely institutional investors. In February, these entities acquired nearly $250 million worth of LINK tokens through Binance withdrawals. This ongoing accumulation by whales indicates a strong interest in Chainlink and suggests that these investors have confidence in the project’s future prospects.

FLOKI Whales Unstaking and Profiting

Lookonchain is also monitoring the activities of whales in relation to FLOKI, a rival cryptocurrency to Dogecoin (DOGE) named after Elon Musk’s dog. The firm has observed that six wallets have started unstaking their FLOKI coins and have made a profit of $7.14 million following the recent surge in the memecoin’s price.

FLOKI Whales Selling for Profit

FLOKI experienced a price increase of approximately 75% on March 9th, prompting whales to unstake their FLOKI coins and sell them for profits. These six wallets have unstaked a total of 30 billion FLOKI tokens, equivalent to $7.14 million, within a span of six hours.

FLOKI Wallets Unstaking Coins

Conclusion: LINK and FLOKI Whales Making Moves

The recent accumulation of LINK tokens by deep-pocketed entities and the unstaking and profit-taking activities of FLOKI whales indicate significant interest in these cryptocurrencies. This suggests that investors have confidence in the potential of Chainlink and FLOKI, which could drive further price appreciation in the future.

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Disclaimer

This article is for informational purposes only and should not be considered financial or investment advice. Always conduct thorough research and consult with a professional before making any investment decisions.