Millions of tokens are changing hands in two altcoin projects, which are at the top according to their market value. Whale bots draw attention to the increasing transaction volume in these altcoins.
Anonymous wallets carry millions from this altcoin project
One of these altcoins was Dogecoin. According to the last few tweets from DogeWhaleAlert, which tracks Dogecoin transactions, around 2 million DOGE have been transferred in the last 24 hours. The whale-watching bot has detected three staggering transfers, two of which carry 800,000,000 Dogecoins and one that carries 100,000,000 DOGE. At its current price, the 800 million DOGE transfer is worth $57,970,400. 100 million Dogecoins is equivalent to $7,729,600. Thus, the total amount carried in DOGE equates to $7,729,600.
https://twitter.com/DogeWhaleAlert/status/15414731213200030208
According to an earlier tweet by DogeWhaleAlert, currently popular crypto exchange Robinhood is holding an astonishing amount of Dogecoins. The exchange has a staggering 40,138,384,632 Dogecoins. This means that the exchange is holding DOGE of $2,892,291,720. In other words, it holds 30.25% of the total circulating DOGE supply.
The next altcoin on the agenda with suspicious transactions: Chainlink (LINK)
The amount of LINK tokens carried by whales nearly exceeded the 2017 record. Santiment on-chain data analytics firm finds that a surprising amount of cumulative LINK has been moved as the LINK price drops. He also took to Twitter to share that he broke the record set in 2017 after LINK’s debut.
🔗 #Chainlink saw a mild -4% drop alongside the #altcoin pack. However, one thing stood out… 80.8M cumulative unique $LINK moved addresses Tuesday, breaking a 5-year record. Its opening trading days in September, 2017 were the only time we've seen more. https://t.co/DfBFKRZdMs pic.twitter.com/HMVLXAjrQI
— Santiment (@santimentfeed) June 29, 2022
Accordingly, the above tweet shows that a total of 80.8 million unique LINK has been transferred, despite the small 4% price drop that LINK faced on Tuesday. Meanwhile, LINK was the second largest after fall 2017 when a large amount of native Chainlink tokens were exchanged only when it started trading.
They pull LINK collectively from exchanges
Glassnode data shared by Twitter user Jay_DCA shows that investors are pulling a large amount of LINK from their exchanges.
#Chainlink $LINK being pulled off exchanges at record levels. And yeah, it may go lower, this is a bear market after all. But the numbers here are extremely compelling, regardless. pic.twitter.com/WNQAgAXNHF
— Daily Crypto MoonBoy Exposer (@Jay_DCA) June 29, 2022
Chainlink staking ready
cryptocoin.com As you follow, Chainlink recently made important announcements for staking. Users can now earn passive income with staking by locking LINK. In this way, Chainlink nodes will be encouraged to generate accurate oracle reports and deliver them on time.
In the long run, shareholders reap rewards from various sources in the Chainlink network as its adoption continues to expand. After the announcement of the stake transaction, the LINK price started to rise. It is currently trading at $6.35, down over 6%. Meanwhile, Bitcoin was struggling to maintain the $20,000 support.
Dogecoin, on the other hand, is down over 4% today. But despite this, it still remains green above 5% from last week. At the time of writing, DOGE was trading at $0.06761. Despite the gains in recent months, the meme coin is 90% off from the $0.7376 ATH price.
