According to a report by on-chain analytics service Lookonchain, a crypto whale has amassed a substantial quantity of Chainlink (LINK), buying 312,901 LINK worth at around $3.81 million during the previous eight hours.
These LINK tokens may be purchased for an average price of $12.17, which is not too dissimilar from the token’s current trading price on major exchanges.
According to CoinGecko, this action is occurring when Chainlink’s price is trading between $11.76 and $12.50 within a 24-hour period. As of right now, Chainlink has a market capitalization of around $6.89 billion and a $729.95 million 24-hour trading volume.
Strategic trades
This investor, known as “smart money,” has a track record of successful cryptocurrency transactions. From deals involving ten different tokens, he has made a total profit of over $3.9 million.
They have made about $1.8 million from Flexacoin (FLEX) and about $2.15 million from Rollbit (RLB) in prior profitable deals.
LINK transfers stir market attention
In related news, a big Chainlink transfer that Whale Alert was tracking has the cryptocurrency world abuzz. A massive 3.8 million LINK transfer, or around $46 million, was made between unidentified wallets.
The Ethereum blockchain transaction has attracted attention, leading market players to speculate about possible market ramifications.
These kinds of large-scale transfers are frequently widely watched because they may precede events that move markets, including huge sell orders or liquidity requirements.
