Whale Chainlink (LINK) Activity Spike Reaches 1,700%: Here Are the Details!

Jakarta, Pintu News – Chainlink LINK1.19%->Current LINK PriceRp 228.8921.19%Market CapRp 0Trading VolumeRp 0Circulating SupplyRp 0, the cryptocurrency of the decentralized blockchain oracle network, has recently experienced a significant increase in whale activity. In the past 24 hours, the volume of large transactions reached more than $1 billion, drawing the attention of the crypto community.

Data from IntoTheBlock shows a huge transaction volume increase of 1,700.73%, totaling $1.01 billion or approximately 73.41 million LINKs.

Check out the full news below!

Large Transactions and Their Effects

Chainlink’s large transaction volume set an annual record, with the exception of September 20, 2024, when volume reached 65.02 million LINK. This increase came a day after Chainlink completed its quarterly token opening, in which 19 million LINK tokens (worth nearly $262 million) were released from two non-circulating supply addresses.

Previously, Chainlink has conducted 10 token openings, with nine of them seeing price increases within 30 days of opening. Of the total tokens that have been unlocked since August 2022, 176 million LINKs (worth approximately $2.43 billion) have been deposited on Binance at an average price of $11.41.

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Latest Whale Activity

On-chain analytics platform SpotOnChain reported that a whale spent 7.1 million US Dollar Coin USDC0.73%->Current USDC PriceRp 16.5280.73%Market CapRp 0Trading VolumeRp 0Circulating SupplyRp 0 to buy 506,226 LINKs at an average price of $14.03.

To fund this transaction, the whale sold 1,108.83 Ethereum ETH2.55%->Current ETH PriceRp 32.051.7752.55%Market CapRp 7.444 TriliunTrading VolumeRp 594,65 TriliunCirculating SupplyRp 120.452.072 for 2.1 million USDC and withdrew another 5 million USDC from Spark. In an unexpected move, the whale sold 1.34 million LINKs on-chain for $18.36 million at $13.7 per LINK, losing $512,000 or 2.7%.

Meanwhile, the whale closed its long LINK position on GMX with a profit of $195,000 and converted its long LINK position on Hyperliquid to short Bitcoin BTC0.47%->Current BTC PriceRp 1.370.906.7130.47%Market CapRp 33.034 TriliunTrading VolumeRp 1.590 TriliunCirculating SupplyRp 19.797.675 with 40x leverage, currently resulting in an unrealized profit of $290,000.

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Market Implications and Future Predictions

This increase in activity suggests that whales still have confidence in Chainlink’s long-term prospects, despite significant price fluctuations. This trend analysis is important to understand the broader market dynamics and potential future price movements of LINK.

With continued token openings and increased whale activity, the market may see more volatility in the near future. Investors and market watchers should pay attention to these whale actions as potential indicators of larger market movements.

Conclusion

The spike in whale activity on Chainlink signals an important period for the cryptocurrency. With careful scrutiny, the crypto community may be able to capitalize on this trend to make more informed investment decisions. As always, it is important to do your research and consult with experts before making any investment decisions.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• U.Today. Chainlink (LINK) Whales Go Wild with 1700% Spike in Activity: Details. Accessed on March 17, 2025
• Featured Image: The Block