Chainlink (LINK) Witnesses Impressive Price Surge and Whale Accumulation
Chainlink (LINK) has seen a significant price increase, outperforming the broader cryptocurrency market. During this surge, there has been notable accumulation of LINK by mysterious whale wallets, as indicated by on-chain data.
Massive LINK Accumulation Occurs On Binance Before Withdrawal
According to data from Binance, there is an ongoing accumulation of LINK on the exchange. In the midst of this accumulation, a specific whale or institution has been making large purchases, acquiring over 2.7 million LINK tokens worth $49.9 million. This accumulation follows the withdrawal of over 119,583 LINK tokens worth $2.15 million by four new wallets from Binance.
Whales/institutions continue to accumulate $LINK!
This mysterious whale/institution withdrew 2,745,815 $LINK($49.9M) from #Binance via 49 new wallets.
Whale “0x2A19” withdrew 494,957 $LINK($9M) from #Binance in the past 10 days.https://t.co/QoP2waErBShttps://t.co/iaPHa9f0XB pic.twitter.com/GUW1S33NHf
— Lookonchain (@lookonchain) February 7, 2024
Another whale address, “0x2A19,” has withdrawn 494,957 LINK tokens worth $9 million from Binance in the past 10 days. Additional accumulation of LINK tokens from other crypto exchanges has also been observed.
LINK’s Price Surge and Bullish Outlook
LINK has experienced a price gain of 4.30% in the past 24 hours and has been on a sustained breakout since January. This surge is not surprising given Chainlink’s role in DeFi and NFTs through its smart contract oracles. The recent release of Chainlink’s Staking v0.2 protocol further contributes to its positive outlook.
The significant accumulation of LINK by whales indicates their confidence in the token’s long-term value and potential for price appreciation.
Hot Take: Chainlink (LINK) Witnesses Whale Accumulation Amidst Impressive Price Surge
The price of Chainlink (LINK) has surged, outperforming other cryptocurrencies. During this period, mysterious whale wallets have been accumulating large amounts of LINK, as seen from on-chain data. This accumulation is particularly noticeable on Binance, where a specific whale or institution has made significant purchases of over 2.7 million LINK tokens worth $49.9 million. This follows the withdrawal of LINK tokens by other wallets from Binance. The accumulation by whales is a positive signal for LINK’s future price action, indicating their belief in its long-term value and potential. With its role in DeFi and NFTs, as well as the release of the Staking v0.2 protocol, Chainlink continues to gain momentum in the crypto market.
By
By
By
By