A savvy investor, often called ‘smart money,’ has significantly increased their holdings in Chainlink (LINK).
A cryptocurrency whale has gathered a substantial amount of Chainlink (LINK), buying 312,901 LINK tokens worth around $3.81 million in just the past eight hours, as reported by Lookonchain, an on-chain analytics provider.
The average price at which these LINK tokens were acquired was $12.17, which is quite close to the current trading price of the token on major exchanges.
This activity coincides with Chainlink’s price ranging from $11.76 to $12.50 over the last 24 hours, according to CoinGecko. Chainlink presently boasts a market capitalization of approximately $6.89 billion and a 24-hour trading volume of $729.95 million.
The investor, known for their wise choices, has a history of profitable ventures in the crypto world, having earned over $3.9 million in total profits from trading 10 different tokens. Notable successes include making around $2.15 million from Rollbit (RLB) and approximately $1.8 million from Flexacoin (FLEX).
Chainlink (LINK) Transfers Catch the Market’s Eye
In a related update, the cryptocurrency community is abuzz with talk of a substantial Chainlink transfer, detected and reported by Whale Alert. An immense sum of 3.8 million LINK, valued at approximately $46 million, was moved between wallets of unknown origin.
This transaction, recorded on the Ethereum blockchain, has piqued interest, leading market observers to speculate on potential consequences for the market.
Significant transfers like this one are frequently scrutinized closely because they have the potential to foreshadow market-altering events, such as major sell orders or liquidity injections.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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