Recently, data on whales points to two altcoins instead of popular cryptos like DOGE and BTC. Here are the latest investments from big investors…
Not DOGE: Whale transactions increased on Chainlink
In recent developments in the cryptocurrency market, Chainlink (LINK), a popular decentralized oracle network, has witnessed a significant increase in whale transactions amid the sharp drop in prices. According to Santiment, a leading ten chain analytics platform, the amount of Chainlink whale transactions reached the highest level in 2023. The news came as LINK prices dropped to a three-year low of $5 over the weekend, causing significant market turmoil. In particular, medium-sized LINK wallets in the 1,000 to 100,000 token range have shown a strong tendency to accumulate substantial sums, with a staggering 3.9 million LINK worth nearly $20 million accumulated in the past week alone.
The cryptocurrency market has been through a turbulent period recently, with many crypto assets experiencing significant price fluctuations. Chainlink, a highly respected token in the decentralized finance (DeFi) industry, was also unaffected by this volatility. The LINK token witnessed a serious drop in value, reaching a three-year low of $5 over the weekend. Such price drops often lead to panic selling among individual investors. However, Santiment’s data reveals that Chainlink whales are taking advantage of the situation. These high net worth individuals or organizations are actively increasing their holdings as whale transactions hit a new high for 2023.
A notable trend emerging from recent market conditions is the accumulation of LINK tokens in medium wallets ranging from 1,000 to 100,000 coins. These wallets, which represent a significant portion of LINK holders, have been particularly active in accumulating large amounts of cryptocurrencies. In the past week alone, approximately 3.9 million LINK tokens have been accumulated by mid-sized wallets, equivalent to $20.0 million. This indicates that, despite the current market crash, there is considerable confidence among these LINK holders regarding Chainlink’s future prospects.
SHIB whale bought 1.5 trillion coins
The largest Shiba Inu whale on Tuesday has amassed an additional 1.5 trillion SHIB tokens from crypto exchanges Binance and Coinbase. This move came as whales and investors started accumulating SHIB after the recent crypto market crash. The SHIB price has risen over 3 percent in the past 24 hours. Whale Alert reported on June 13 that the wallet address “0x2eFB” received 1,047,480,969,141 SHIB ($6.97 million) from Jump Trading. The wallet address also received 483,923,234,473 SHIB ($3.25 million) from the wallet address “0x66E0”. “0x2eFB” still holds 5.75 trillion SHIB.
🚨 1,047,480,969,141 #SHIB (6,975,175 USD) transferred from Jump Trading to unknown wallethttps://t.co/EfpWBUD3cD
— Whale Alert (@whale_alert) June 12, 2023
Etherscan data shows that “0x2eFB” transferred 1.5 trillion SHIB worth $10.09 million to wallet address “0x73AF” a few hours later. The wallet address is known to transfer SHIB to the largest non-exchange wallet address “0x40B3”. “0x73AF” still holds 5.28 trillion SHIB. Lookonchain shared that “0x40B3”, the largest owner of Shiba Inu, has amassed 1.5 trillion SHIB ($10 million) from Binance and Coinbase. Interestingly, “0x40B3” received 20 trillion SHIB from “0x73AF” on May 16.
Meanwhile, lead developer Shytoshi Kusama has paused Shibarium’s official Telegram group again amid rising FUD about the mainnet’s official release date. The pause in activity has also led to speculation among the community about whether a Shibarium release is imminent.
