Whales’ Strategy for Decline Unveiled! 90 Whales Purchase Altcoin from Binance
The strategy of whales during the recent decline in the cryptocurrency market has been revealed. A total of 90 new whale wallets bought $86.7 million worth of Chainlink (LINK) from Binance.
As Bitcoin (BTC) and altcoins experienced a boring and challenging week, investors are now speculating whether the decline has come to an end. Typically, investors aim to buy at the lowest point and sell at a higher price. Some large investors, believing that the market had reached its lowest point, began making purchases.
In this context, there has been significant whale activity in Chainlink (LINK), which is considered an essential altcoin in whale portfolios. According to a post by Lookonchain, 90 new whale wallets acquired LINK worth $86.7 million from Binance.
“Whales/institutions continue to accumulate LINK! A total of 90 new wallets have recently acquired 6.72 million LINK from Binance, with a total value of $86.7 million.”
LINK, which reached $22 in March, started to decline alongside Bitcoin and dropped to $11. Currently, it has decreased by 1.2% in the last 24 hours and is being traded at $12.56 at the time of writing.
Whales/institutions continue to accumulate $LINK! A total of 90 new wallets have withdrawn approximately 6.72 million $LINK ($86.7M) from #Binance recently! [source: Lookonchain]
*This article does not constitute investment advice.
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