Chainlink (LINK) has witnessed a dramatic 125% surge in large transaction volume, according to data from IntoTheBlock via Sentora. In the past 24 hours, a staggering $133.94 million worth of LINK, equivalent to eight million tokens, has changed hands, indicating significant whale activity.
Whale Transactions Spark Speculation
Read more on U.Today https://u.today/chainlink-skyrockets-125-in-whale-moves-as-millions-of-link-get-shifted
Blockchain tracker Whale Alert reported two major transactions involving over 2.5 million LINK tokens being moved from the Bybit exchange to unknown wallets. The first transaction involved 1,250,000 LINK valued at $20.51 million, while the second saw 1,289,995 LINK worth $21.17 million transferred. Analysts suggest these movements could either signal accumulation by whales or strategic fund reshuffling.
Also Read: Chainlink (LINK) Poised for Next Bullish Impulse: Will $15.30 Breakout Spark a Rally to $20?
Chainlink’s Position in the Market
Currently ranked as the 12th-largest cryptocurrency by market capitalization, Chainlink is attracting attention amid broader market volatility. Despite a 1.31% drop in price to $16.65, LINK remains up 17% over the past week. The tokenization of traditional assets was a focal point at the recent Crypto Task Force roundtable, where Chainlink emphasized the potential for increased market transparency and access.
Market Outlook Amid Inflation Data
While Chainlink experienced substantial whale movement, broader crypto markets showed minimal reaction to April’s inflation data, which came in slightly lower than expected at 2.3% year-over-year. Despite the current profit-taking trend, Chainlink’s ongoing whale activity could set the stage for further price action in the coming days.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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