Accumulate

2024

Umami Finance

Chainlink

Avalanche

<ul> 
 <li><strong>Whale investors have withdrawn 6.71 million LINK from Binance, signaling continued accumulation.</strong></li> 
 <li><strong>Umami Finance integrates Chainlink Data Streams to enhance liquidity provider experience on Avalanche.</strong></li> 
</ul>  
<p>Though it is currently declining, investors view the crypto market differently, not always negatively. Some actually find it by chance.</p> 
<p>The on-chain smart money platform Lookonchain has underlined in a recent <a href="https://x.com/lookonchain/status/1809927915100156068">tweet</a> the most recent actions by multiple whale investors, or institutions, to accumulate significant <a href="https://www.crypto-news-flash.com/chainlink-collaborates-with-sygnum-and-fidelity-to-revolutionize-nav-data/">Chainlink</a> (LINK) tokens. From the crypto exchange Binance, 90 wallets in all have withdrew around 6.71 million LINK, worth $86.72 million.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Whales/institutions continue to accumulate <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a>!</p> 
 <p>A total of 90 fresh wallets withdrew ~6.72 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a>(86.7M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> recently!<a href="https://t.co/W6JaoFM1zS">https://t.co/W6JaoFM1zS</a><a href="https://t.co/6Scx8SLtNl">https://t.co/6Scx8SLtNl</a> <a href="https://t.co/m2eqwKvnYE">pic.twitter.com/m2eqwKvnYE</a></p> 
 <p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1809927915100156068?ref_src=twsrc%5Etfw">July 7, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h2 id="strong-not-the-first-major-link-purchase-in-july-strong"><strong>Not the First Major LINK Purchase in July</strong></h2> 
<p>This current massive <a href="https://www.crypto-news-flash.com/chainlink-ccip-integrates-with-drift-labs-for-token-accessibility/">LINK</a> buildup is not a one-off occurrence. Whale investors made major purchases earlier in the month, on July 2nd. About 54 wallets obtained 2.07 million LINK tokens at that time, worth $30.27 million.</p> 
<p>Meanwhile, data from CoinMarketCap shows LINK’s price at the time of writing is <strong>$12.63</strong>, having decreased <strong><span style="color: #ff0000;">1.83%</span></strong> over the last 24 hours. With a total loss of <span style="color: #ff0000;"><strong>9.54%</strong></span>, this fall shows a bearish tendency over the past seven days.</p> 
<div class="cryptoboxes" id="mcw-435411" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="chainlink" data-symbol="LINK" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="day" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
</div>
<p>Previously, CNF also reported how <a href="https://www.crypto-news-flash.com/chainlink-data-streams-integrated-by-umami-finance-for-better-lps/">Umami Finance</a> used Chainlink Data Streams to improve the Avalanche network liquidity provider experience. This action is expected to provide the given data to liquidity providers better dependability and efficiency.</p> 
<p>Though the crypto market has a downward tendency, the build-up of LINK by whale investors points to a long-term positive future for the currency. Moreover, the way <a href="https://www.crypto-news-flash.com/chainlink-ccip-integration-powers-cross-chain-carat-transfers-for-alaska-gold-rush-on-bnb-chain-and-polygon/">Chainlink’s</a> technology is integrated into other platforms shows its increasing relevance and future expansion possibilities.</p> 
<p>Although the short-term market conditions seem difficult, the strategic actions taken by institutional investors and continuous technical integrations show Chainlink’s bright future. Let’s see.</p>

Whales Continue to Accumulate LINK Despite Market Downturn

Table of Contents

Crypto News Flash

Other articles published on Jul 8, 2024

Best Airdrops for Quick Gains

L2 Wars: The Hyper-Competitive Life Cycle of Blockchain Layer 2s

As Germany dumps another 1K Bitcoin, traders feel the tremors

Bitcoin: Planning to sell your BTC today? Analyst says hold off till 2026!

Bitcoin Faces New Decline After US Market Opens

German Government Dumps Over $100 Million Worth of Bitcoin

Join our free newsletter for daily crypto updates!