In the ever-volatile world of altcoin projects, whale activity has once again attracted attention. Over the last 24 hours, significant movements have been observed in various cryptocurrencies. Questions have been raised about the intentions and impact of these large-scale transactions. Here are the details…
Altcoin Chainlink attracts the attention of whales
Chainlink (LINK) enthusiasts have had quite the bumpy ride lately. While Bitcoin and altcoins were falling ahead of the FED’s interest rate decision, LINK was no exception. It fell below $27,000, reflecting the decline in the broader market. However, it was the whales’ subsequent actions that really attracted attention. According to data from Lookonchain, approximately 35 new wallet addresses created just three days ago have started withdrawing LINK from Binance. These large-scale transactions raised eyebrows among crypto watchers. So far these whales have withdrawn 755,687 LINK, which is equivalent to approximately $5.08 million. The main question on everyone’s mind is, “Do whales accumulate LINK?” This sudden increase in withdrawals from Binance indicates that there may be significant interest in this altcoin despite recent market turmoil.
Liquidity changes occurred for Ethereum, AAVE
Separately, on September 19, an address moved approximately 12,300 ETH, worth approximately $20 million, from Aave to Binance. This significant shift in liquidity raises questions about the owner’s intentions and how it may affect the Ethereum market. LINK and ETH movements were not the only example of whale activity in the crypto market on September 19. On-chain data analyst Ember reported that one whale address spent $9.92 million to purchase 5,997 ETH. With an average price of $1,655 per coin, this move could have impacts on both the ETH and Bitcoin markets. Lookonchain observations also revealed that a whale address that had been inactive for two years made a significant move by transferring 10,000 ETH (approximately $16.5 million) to various exchanges such as Binance, OKX, and KuCoin.
This significant change in assets indicates renewed activity by long-term investors. Finally, there has been significant turbulence in the Tellor (TRB) market. After multiple addresses transferred TRB to Binance, the price dropped from $36 to $24. However, 15 minutes ago, 74,577 TRB worth approximately $2.2 million were withdrawn from Binance, sparking a rapid recovery in the price of TRB, rising to $31. While the crypto market continues to be driven by the actions of these influential whales, traders remain alert, ready to adapt to the ever-changing dynamics of this exciting and unpredictable space.
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