Large entities on the Ethereum network have been accumulating decentralized oracle service Chainlink (LINK) over the last 14 days, on-chain data shows.
According to blockchain tracking service Lookonchain, a total of 30 addresses, which are potentially the same individual, have accumulated 2.6 million LINK tokens worth over $18.5 million from crypto exchange Binance.
“Whales are accumulating LINK recently.
– 30 new addresses (maybe the same whale) accumulated a total of 2,645,590 LINK ($18.52M) from Binance in the past 2 weeks.
– Whale “0xD51b” bought 367,814 LINK with 2,422,717 USDT at a price of $6.59 on Mar 15.”
According to Chainlink, seven of its services were integrated into six different blockchains over the last week, including Arbitrum, Avalanche, BNBChain, Ethereum, Optimism, and Polygon.
At time of writing, LINK is trading at $7.42, up 2.7% on the day.
Lookonchain also spotted Ethereum whales making big moves over the weekend. According to the firm, A whale sent over $50 million in stablecoins to Binance in two transactions on Saturday, and has so far made one big ETH purchase.
“A whale transferred 30.73M USDC to #Binance yesterday and received 14,683 $ETH ($26M) from Binance 5 mins ago.
Then transferred 19.68M USDT to Binance again 20 mins ago.”
Lookonchain previously reported crypto whales driving up the price of privacy-centric altcoin MASK token throughout March, helping it outperform most of the digital asset markets.
“The price of MASK increased by ~44% today.
This market maker received 3.5 million MASK from address ‘0x5459’ [on March 17th].
At the same time, multiple related addresses withdrew MASK from exchanges one after another.
Drive up the price of MASK again!”
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The post Crypto Whales Rapidly Accumulating Chainlink As Millions of LINK Tokens Leave Binance: On-Chain Data appeared first on The Daily Hodl.
