Chainlink Whale Made a $9.67 Million Withdrawal from Kraken: What Does it Mean for LINK?

In the cryptic depths of the cryptocurrency market, a mysterious whale has been making waves. A huge amount of 353,500 Chainlink (LINK) tokens, equivalent to approximately $2.14 million, were withdrawn from the Kraken exchange just 8 hours ago. This is not an isolated incident, as the whale has been consistently withdrawing LINK from Kraken for the past three months.

The whale’s activities have been closely monitored by the crypto community. Over the past quarter, the anonymous entity has withdrawn a total of 1,588,500 LINK tokens, which is valued at an eye-watering $9.67 million. This has raised eyebrows and fueled speculation among traders and analysts alike.

Trade on US-Banned Exchanges With No KYC 🤫

Tired of missing hot new listings because your favorite exchange is banned in the US? 🇺🇸

With RocketXchange you can finally trade on Kucoin, ByBit and more without registration or KYC! 🙌

Simply connect your wallet to access every coin. No VPN needed.

Seamlessly bridge between EVM, Solana, Cosmos and 100+ chains. Discover the next crypto gem with low fees.

Take your trading to the next level with:

  • Instant access to banned CEXs 🚫
  • No KYC required 🙅‍♂️
  • Trade on your terms – no registration required
  • Maintain full custody – tokens stay in your wallet
  • Access liquidity across leading DEXs and CEXs
  • Bridge assets quickly between any blockchain

Escape CEX limits today with RocketXchange!

Show more +

The average withdrawal price of these LINK tokens stands at $6.78. This indicates that the whale has been strategically timing the withdrawals to optimize the value. It’s important to note that Chainlink’s price has been volatile, and the average withdrawal price suggests that the whale might be employing a sophisticated trading strategy.

What Does This Mean for Chainlink?

Chainlink, known for its decentralized oracle network which connects smart contracts to real-world data, has been a popular choice among investors. The whale’s massive withdrawals from Kraken could have several implications:

  1. Market Impact: Large withdrawals can sometimes indicate a lack of confidence in the exchange or the asset. This can affect market sentiment and, in some cases, lead to price fluctuations.
  2. Potential Accumulation: The whale could be accumulating LINK for long-term holding, which might indicate a strong belief in Chainlink’s future prospects.
  3. Strategic Play: The whale might be engaging in a strategic play, such as moving assets to a private wallet for security or preparing for a large-scale investment.

As the crypto market continues to evolve, the activities of whales will always be a point of interest. Their movements can offer insights into market trends and potential shifts. For now, the Chainlink whale remains an enigma, but the crypto community will undoubtedly keep a close watch on the deep.

intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of


Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

We will be happy to hear your thoughts

Leave a reply