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Okay, here’s a rewritten take on the Chainlink (LINK) situation, reworded and jazzed up for better understanding:
**Chainlink (LINK) Big Investors Go Wild, Action Soars by 1700%!**
*Important Note: This isn’t investment guidance. Conduct your personal investigation before getting into crypto.*
Chainlink’s digital currency, LINK, is creating buzz in the digital currency space. Big investor action has blown up, with more than $1 billion in huge dealings in the past day.
Figures from IntoTheBlock display a huge 1700.73% jump in Chainlink’s large dealing volume, reaching $1.01 billion (that’s 73.41 million LINK coins!). This is among the greatest increases we’ve witnessed this year, just after September 20, 2024, when large dealings reached 65.02 million LINK.
**What’s Causing the Excitement?**
Chainlink just freed up a load of coins – 19 million LINK (almost $262 million) to be exact – from locations that weren’t being used. Of that, 14.875 million LINK (around $205 million) went directly to Binance, while the other 4.125 million LINK (nearly $57.04 million) ended up in a multi-signature location.
In the past, Chainlink releases have often been accompanied by price rises. Out of the 10 prior releases, the price increased within a month an incredible 9 times.
Since August 2022, Chainlink has released 176 million LINK (currently valued at about $2.43 billion). A large amount of those – 151.3 million LINK – were put into Binance at an average price of $11.41.
Chainlink possesses a Two Significant Prospects and Perils for Bitcoin’s Comeback quantity of LINK tokens, approximately 342.5 million, with an estimated value of $4.7 billion. These tokens are distributed among various non-circulating supply agreements.
Whale Observation
As per SpotOnChain’s data, a crypto whale recently expended $7.1 million USDC to procure 506,226 LINK tokens at an average cost of $14.03. To finance this purchasing surge, the whale exchanged 1,108.83 ETH for $2.1 million USDC and obtained an additional $5 million USDC from Spark. Subsequently, this whale has been actively increasing its total LINK accumulation to 863,174 tokens, assessed at $12.1 million, at an average price of $14.02.
In an unexpected turn, the whale offloaded 1.34 million LINK tokens on-chain at $13.7 apiece, amassing $18.36 million but incurring a $512,000 deficit, representing roughly a 2.7% decrease.
Concurrently, this whale terminated LINK long positions on GMX, securing a $195,000 gain, and transformed a LINK long position on Hyperliquid into a BTC short position with 40x leverage, presently holding a $290,000 unrealized profit. This action corresponds with Chainlink’s substantial token unlock entering the market.
