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According to the latest report by cryptocurrency analytics provider Lookonchain, a whale-level crypto investor has made a significant investment in Chainlink by purchasing approximately 312,901 LINK tokens worth about $3.81 million in the past 24 hours. The average purchase price of the whale is $12.17, which is very close to the current trading level of this altcoin on major cryptocurrency exchanges.
Crypto Whale’s Strategic Chainlink Trading
According to data provided by cryptocurrency data and price platform CoinGecko, this purchase took place when the price of Chainlink was fluctuating between $11.76 and $12.50 in the past 24 hours. Chainlink currently has a market capitalization of approximately $6.89 billion and is being traded with a 24-hour trading volume of $729.95 million.
It is worth noting that this investor, who is also known as a crypto whale or “Smart Money,” has a history of profitable trades and has made over $3.9 million in profit from 10 different altcoin trades. Among the previous successful altcoin trades, he made approximately $2.15 million from Rollbit’s RLB and about $1.8 million from Flexacoin’s FLEX.
LINK Transfers Attract Market Attention
There is currently a significant transfer related to Chainlink in the altcoin market. Whale Alert, a platform that detects and shares major movements in blockchains, recently reported that approximately 3.8 million LINK tokens worth about $46 million were transferred between anonymous wallets.
This transaction, documented on the Ethereum blockchain, has managed to draw attention as market participants speculate about its potential market impact.
Such large-scale transactions/transfers are closely monitored as they can occur before events that move the market, such as large sales or liquidity provision. In this regard, LINK once again stands out as an asset closely followed by altcoin investors.
