Fresh Whales Are Accumulating Chainlink (LINK) and This Altcoin

On-chain analytics provider Lookonchain flagged some large transactions recently involving Ethereum bluechip tokens Maker (MKR) and Chainlink (LINK).

Specifically, Lookonchain detected a wallet with no prior transaction history withdrawing over 3,150 MKR worth $4.55 million from Binance in the past 20 minutes.

Additionally, another fresh wallet not traced to previous blockchain activity pulled over 136,000 LINK worth $2.05 million from the exchange in the past 10 minutes. That particular address has withdrawn nearly 385,000 LINK, totaling around $5.8 million, from Binance in the past 10 days.

Whale accumulation from new wallets or large transfers toward cold storage typically indicates conviction in a project’s long-term potential.

As leading DeFi tokens associated with Ethereum’s growth trajectory, Maker and Chainlink often garner interest early in market cycles from investors with a bullish multi-year outlook. The blockchain activity spotted illustrates savvy crypto participants positioning for expected adoption waves as Ethereum evolves.

Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!🤫

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +

While it is difficult to pinpoint the exact reasoning, the on-chain transfers likely represent anticipation regarding improved crypto conditions overall in 2023. Scalability improvements for Ethereum and progress toward institutional involvement may also motivate accumulation of foundational tokens like MKR and LINK.

Regardless of motives, the transfers signal whales feel confident allocating toward Ethereum’s core decentralized finance and Oracle solutions at a time when adoption looks poised to accelerate greatly. Their blockchain activity reflects their conviction that Maker and Chainlink’s best days likely still lie ahead.

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.


Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency