Crypto Whales Capitalizing on Bitcoin, Ethereum, and Chainlink Dips, Reports Lookonchain
Blockchain tracking firm Lookonchain reveals that crypto whales are seizing the opportunity presented by the correction in digital asset markets. The firm observed a “smart whale” with a proven track record of profitable trades buying over 3,600 ETH as the price dipped. This savvy investor specializes in purchasing ETH at low prices and selling it at highs, currently sitting on a profit of approximately $25.8 million.
Additionally, Lookonchain identified another whale purchasing Chainlink (LINK) as its price dropped to $14.81. This whale acquired 601,949 LINK tokens worth $8.9 million using three new wallets. The purchase appears to have stabilized LINK’s price, which is currently trading at $15.53.
In the case of Bitcoin, Lookonchain reports that a whale withdrew around $30 million worth of BTC from Binance as its price fell below $42,000. This suggests that this particular whale is actively buying BTC during market dips.
Hot Take: Crypto Whales Seize Opportunities Amid Market Correction
Despite the recent correction in the digital asset markets, crypto whales are demonstrating their confidence by strategically buying up assets like Bitcoin, Ethereum, and Chainlink. These experienced investors are taking advantage of the lower prices to accumulate substantial amounts of these cryptocurrencies. By capitalizing on market dips, these whales are potentially positioning themselves for significant profits in the future. Their actions also indicate a belief in the long-term value and potential growth of these digital assets. As they continue to make strategic moves during market corrections, it will be interesting to see how their positions unfold and whether other investors follow suit.
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