New Whales Begin Accumulating Massive Amounts of Chainlink (LINK) From Binance: Lookonchain

On Mar 11, 2024

New deep-pocketed entities have accumulated the native asset of the decentralized oracle provider Chainlink (LINK), according to blockchain tracking firm Lookonchain.

Lookonchain says that eight different addresses withdrew $16.72 million worth of LINK tokens from Binance, the world’s largest crypto exchange.

“It seems that whales are buying LINK!

We noticed that eight fresh wallets withdrew 831,160 LINK ($16.72 million) from Binance in [two] days.”

Lookonchain spotted the following wallets withdrawing LINK from Binance addresses:

Over the last several months, Lookonchain has tracked “mysterious” whales, likely institutions, accumulating LINK. In February, Lookonchain said that the entities had acquired nearly a quarter billion dollars worth of LINK, also via Binance withdrawals.

At time of writing, LINK is trading at $21.29, up nearly 7% in the last 24 hours.

Lookonchain also has its eye on Dogecoin (DOGE) rival FLOKI (FLOKI), named after Elon Musk’s dog.

According to the firm, six wallets have all begun unstaking their FLOKI coins and are taking $7.14 million in profit following the memecoin’s latest surge.

“The price of FLOKI increased by ~75% [on March 9th]!

We noticed that whales started unstaking FLOKI and selling for profits!

Six wallets have unstaked 30 billion FLOKI ($7.14 million) in the [six] hours and are selling FLOKI.”

At time of writing, FLOKI is trading for $0.000278, up over 15% in the past day.

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