New Wallet Withdraws $12.44 Million in LINK from Binance
A whale address recently withdrew 597,000 LINK worth $11 million from Binance, coinciding with a 12% price surge in LINK. The whale has accumulated over 1.34 million LINK in the last two days, with unrealized profits of $2 million.
LINK
Fact Check
Source 6 directly corroborates the statement, reporting a recent whale withdrawal of 744,604 LINK from Binance valued at $12.48 million. This amount is nearly identical to the $12.44 million claimed, with the small discrepancy likely due to price fluctuations. While other sources describe different transactions (both inflows and outflows), Source 6 provides strong, specific evidence for this particular event.
Summary
On-chain data reveals that a whale withdrew 597,000 LINK, worth $11 million, from Binance, which aligns with a 12% surge in LINK's price. The whale has accumulated 1.34 million LINK over two days, with a current unrealized profit of $2 million (+8.5%). Other withdrawals from Binance contribute to a total of $12.44 million in LINK being moved out of the exchange.
Terms & Concepts
- LINK: The native cryptocurrency of the Chainlink network, used to pay for services within its decentralized oracle ecosystem.
- Binance: One of the world's largest cryptocurrency exchanges, offering trading, withdrawal, and custody services for digital assets.