A crypto whale reportedly pulled over 77,000 LINK tokens, worth about $1.05 million) from Binance between yesterday and today to a new mystery wallet with the tag “0x985…2988”.
The whale’s biggest withdrawal today, with a transfer for 10,502 LINK (around $145,461) from Binance’s hot wallet. Meanwhile, the whales had previously pulled 9,495 LINK (worth $129,704) from another Binance wallet (0x28C). This whale seems to have a strategy with this back-to-back withdrawal.
Yesterday, the whale grabbed 11,673 LINK worth $160,516 from wallet (0xDFd), then took 10,776 LINK ($150,436) from wallet 0x21a.
This is raising speculation and signs of accumulation. When whales move crypto off an exchange, it usually means they plan to hold rather than sell. This is often seen as a sign of accumulation rather than selling pressure.
Moreover, data from IntoTheBlock shows that LINK transactions over $100,000 have dropped a lot from 620 on March 14 to just 121 on March 17. That means even though this whale is moving funds, overall whale activity is slowing down.
Chainlink’s Road to $24
Meanwhile, Chainlink (LINK) is showing signs of a trend reversal. Right now, LINK has a market cap of about $9 billion and an average daily trading volume of $315 million, with a 15% increase recorded today, according to CoinMarketCap.
Looking at the daily chart, the price recently tapped on a demand zone at $12, followed by a hammer candlestick, which traders see as a bullish signal.
However, there is a supply zone can could serve as a resistance level at $17, if the price manages to break above this zone, LINK could retrace a bit but target $24 or even higher in its next rally
Right now, LINK is trading at $13.76, up 1% in the last 24 hours. But it’s still down 28% since Donald Trump’s second inauguration.
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