Chainlink Whale Massively Accumulates LINK During Market Downturn

A high-net-worth Chainlink investor, identified by the address 0x7d2, has made a substantial move amidst the recent bearish sentiment in the cryptocurrency market. According to data from SpotOnChain, this whale has withdrawn a staggering 150,000 LINK tokens, worth approximately $2.71 million at the current price of $18.06, from Binance in a single transaction.

The transaction, with the hash 0xd146206d236cd2c342f7543f1688b41257189fa7b73b118cf3e65d1c12dd3ee3, represents a significant accumulation of LINK by the whale during a period of market downturn. Notably, this is not the first time this investor has exhibited such behavior, as they have been actively trading LINK since January 28, 2024.

Source: SpotOnChain

Despite the volatile market conditions, the whale’s LINK trades have yielded an estimated total profit of $1.63 million, representing a 5.72% gain on their investment. However, it is worth noting that the whale has displayed a tendency to engage in FOMO (Fear Of Missing Out) trading, withdrawing LINK at highs and depositing it at lows on multiple occasions.

Even after this substantial withdrawal, the whale’s address (0x7d29eaca95d148629843d87c8d24fbaa6ad485a1) still holds an impressive 550,000 LINK tokens, valued at approximately $9.93 million at the current market price.

Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK?🤫

The key? Getting in early, especially during the ICO phase. Check out NuggetRush today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. Seize the opportunity with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.

Show more +

As a seasoned crypto investor, I find this whale’s accumulation strategy during the market downturn to be intriguing. While the cryptocurrency market has been experiencing a broad correction, with LINK itself down 12% this week, this whale appears to be taking advantage of the discounted prices to increase their holdings.

Such a substantial accumulation of LINK by a high-net-worth investor could be interpreted as a vote of confidence in the long-term potential of the Chainlink project and its native token. It is possible that this whale believes that the current market conditions present an attractive entry point for acquiring LINK at a relatively low price.

However, it is crucial to remember that the actions of individual whales do not necessarily dictate the future trajectory of a cryptocurrency.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
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.


Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!