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# Chainlink Rises 9% During the Relocation of 506,226 LINK
The original Chainlink token, LINK, saw a significant increase of 9% in early trading on Friday, rising from a low of $12.98 to $14.41.
At the time of going to press, LINK has increased by 8.39% in the last 24 hours, reaching $14.27. Chainlink’s price increase is noticeable amid a wider market trend of falling asset values.
The cryptocurrency market is experiencing mixed trading as investors absorb new consumer sentiment data indicating rising inflation forecasts. The Federal Reserve is scheduled to meet next week, with traders expecting the central bank to maintain current interest rate levels.
Bitcoin (BTC) is struggling to stay above $30,000. The main cryptocurrency by market capitalization is currently up 2%, down 13% in the first quarter, and almost 30% below its all-time high since January.
However, Chainlink has seen significant gains in the last 24 hours and is currently the 12th largest cryptocurrency by market capitalization, valued at $9.11 billion. However, the token fell by 18% during the week.
## Relocation of 506,226 LINK
In recent hours, a significant amount of LINK has been transferred as whales (large holders) react to Chainlink’s recent price changes.
Blockchain analytics showcase a notable high-roller deal occurring simultaneously with Chainlink’s valuation surge. As per SpotOnChain, a prominent investor expended $7.1 million in USDC to procure 506,226 LINK at a mean cost of $14.03 in the early hours of Friday.
To finance the acquisition, the affluent trader liquidated 1,108.83 ETH for $2.1 million USDC and extracted an extra $5 million USDC from Spark.
Notwithstanding the valuation escalation, the wealthy trader’s extended stake presently exhibits an unfulfilled deficit of $194,000, implying the affluent trader joined the marketplace prior to the escalating pattern and is still to attain the break-even threshold. Cryptocurrency Market Update: Stability Amidst Uncertainty
