Crypto Update: Opportunistic Whales Drive Chainlink Surge
As Bitcoin (BTC) stagnates in a horizontal pattern, altcoin markets remain relatively quiet. However, amid this lull, astute whales have seized a buying opportunity, particularly in Chainlink (LINK), a staple in many whale portfolios.
Recent data from Lookonchain reveals that 54 new whale wallets collectively acquired $30.28 million worth of Chainlink (LINK) from Binance. This influx underscores a notable accumulation trend among institutional investors.
Earlier this year, Chainlink (LINK) peaked at $22 before retracing to $11 amidst Bitcoin’s bearish trend in April. As of now, the altcoin has rebounded slightly, registering a 2% increase over the last 24 hours and is trading at approximately $14.6.
The surge in whale activity signals a strategic move by institutions to bolster their LINK holdings, potentially anticipating future market movements.
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