Large entities on the Ethereum network have been accumulating the Chainlink (LINK) decentralized Oracle service for the past 14 days, on-chain data shows.
According to blockchain tracking service Lookonchain, a total of 30 addresses, potentially the same person, have accumulated 2.6 million LINK tokens worth more than $18.5 million from the Binance cryptocurrency exchange.
“Whales are accumulating LINK recently.
– 30 new addresses (maybe the same whale) accumulated a total of 2,645,590 LINKs ($18.52M) from Binance in the last 2 weeks.
– The whale “0xD51b” bought 367,814 LINKs with 2,422,717 USDT at a price of $6.59 on March 15.”
According to Chainlink, seven of its services were integrated on six different blockchains over the past week, including Arbitrum, Avalanche, BNBChain, Ethereum, Optimism, and Polygon.
At time of writing, LINK is trading at $7.42, up 2.7% on the day.
Lookonchain also saw Ethereum whales making big moves over the weekend. According to the firm, A Whale sent over $50 million worth of stablecoins to Binance in two transactions on Saturday and has made a large purchase of ETH so far.
“A whale transferred 30.73M USDC to #Binance yesterday and received 14,683 $ETH ($26M) from Binance 5 minutes ago.
He then transferred 19.68 million USDT to Binance again 20 minutes ago.”
Lookonchain previously reported that crypto whales increased the price of the privacy-focused altcoin MASK token during March, helping it outperform most digital asset markets.
“MASK price increased ~44% today.
This market maker received 3.5 million MASK from address ‘0x5459’ [on March 17th].
At the same time, several related addresses delisted MASK from exchanges one after another.
Raise the price of MASK again!”
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Featured image: Shutterstock/GrandeDuc
