Whales Purchase 1.38M LINK Amid Price Dip
- Chainlink witnessed significant whale accumulation during a recent price dip.
- 1.38 million LINK purchased by whales amid exchange outflows.
- Potential rise in Chainlink’s market value speculated by analysts.
Whales have recently bought over 1.38 million Chainlink (LINK) tokens during a price dip, significantly affecting exchange reserves and sparking discussions of a potential bull run.
The large-scale LINK accumulation signals possible price recovery, influencing market dynamics and highlighting increased institutional interest due to major enterprise partnerships.
During a recent price dip, whale wallets accumulated over 1.38 million LINK, fueling speculation of a potential bull run. On-chain data highlights these whale moves as they extract LINK from exchanges, reducing available supply.
Major whale wallets, including “0x4EBD,” acquired the LINK recently. No statements from Chainlink founder Sergey Nazarov on this event.
The Chainlink Foundation also stayed silent, focusing on protocol updates.
This accumulation caused exchange reserves to hit multi-year lows, highlighting the significant amount withdrawn by whales. LINK’s supply on exchanges reduced, indicating a potential price appreciation in the future.
Over $31 million worth of LINK was acquired by whales. Exchange liquidity dropped significantly, showing a demand shift. Institutional signals and partnerships indicate a possible price rise.
Similar whale acquisitions in the past have preceded bullish trends, particularly noted in 2021. With current partnerships and institutional interest, LINK’s value has potential to reflect these patterns.
Crypto analysts suggest a possible LINK price rebound due to whale movements. Historical data supports the theory of post-dip surge linked to strategic acquisitions and growing institutional interest.
Profit Wala, Crypto Market Analyst, Binance Square, said: “Exchange reserves hit multi-year lows — whales are stacking LINK like it’s 2021 again. Rock-Solid Fundamentals: LINK is the backbone of real-world data for DeFi, RWAs & AI — no competitor comes close.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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