2024

Chainlink

Spot

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://u.today/chainlink-surges-175-as-mysterious-whales-shift-millions-of-link" rel="noopener noreferrer nofollow">Chainlink (LINK)</a>, the decentralized oracle network, has recently seen a staggering 1,453% surge in large transaction volume, signaling significant whale activity. This increase in activity raises questions about what might be driving these movements and whether a massive price move is on the horizon.
According to <a href="https://app.intotheblock.com/coin/LINK" rel="noopener noreferrer nofollow">IntoTheBlock</a> data, Chainlink is recording a 1,453.68% surge in large transaction volume, totaling $885.23 million, or 62.3 million LINK in the last 24 hours.
Large transaction volumes typically represent the movements of "whales," or large holders with substantial amounts of cryptocurrency. The recent 1,453% spike in LINK’s large transaction volume might suggest that these large players may be making significant moves.
The reasons for the large transaction volume rise might be varied, however, one could include market speculation, as whales might be positioning themselves for a significant price move.
The substantial increase in transaction volume could be a precursor to a coordinated buying or selling strategy aimed at capitalizing on upcoming market movements.
<h2 id="18-77-million-link-sent-to-exchanges">18.77 million LINK sent to exchanges</h2>
Crypto analyst <a href="https://x.com/ali_charts/status/1804459186241048663" rel="noopener noreferrer nofollow">Ali</a> noted that in the last 24 hours, 18.77 million LINK tokens valued at approximately $256.20 million were sent to cryptocurrency exchanges.
<blockquote>
 In the last 24 hours, 18.77 million <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Chainlink</a> <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LINK</a>, valued at approximately $256.20 million, were sent to cryptocurrency exchanges! <a href="https://t.co/4MV16ZCZBC" rel="noopener noreferrer nofollow">pic.twitter.com/4MV16ZCZBC</a>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1804459186241048663?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 22, 2024</a>
</blockquote>
Blockchain data tracker WhaleAlert reports four transactions totaling over 18 million LINK being sent to the Binance crypto exchange from an unknown wallet.
The four transactions are as follows: two transactions carrying 3,499,999 LINK worth $49,267,056 being sent to Binance from an unknown wallet. In two separation transactions, 6,999,999 LINK worth 98,502,247 and 4,749,999 LINK worth $66,325,386 were transferred from an unknown wallet to Binance.
The massive amount of Chainlink moved might be part of the token's unlock mechanism. According to <a href="https://x.com/spotonchain/status/1804301451201777736" rel="noopener noreferrer nofollow">Spot on Chain</a>, 21 million LINK worth $295 million have been unlocked from Chainlink's noncirculating supply contracts, including 18.25 million LINK worth $264 million, which were transferred to Binance, and the remaining 2.25 million LINK ($31.3 million) sent to a multisig address.
At the time of writing, Chainlink's LINK was down 5.48% in the last 24 hours to $13.63.

Chainlink (LINK) Skyrockets 1,453% in Whale Activity, Massive Move Coming?

Innholdsfortegnelse

U_Today

Andre artikler publisert på 22. juni 2024

Ripple CEO Brad Garlinghouse Faces Trial Over Alleged 2017 Misleading Statements As Battle Heats Up

Avalanche Experiences Significant Market Value Drop

How to Make Passive Income with Crypto Staking on CryptoHeap (At least 1000 Per Day)

Lucie Warns Shiba Inu Community About New Scam

AI investment advice is on the way: Is crypto ready? | Opinion

Here’s Why The Dogwifhat Price Crashed Below $2 This Week

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!