Whale Withdraws $11M in LINK from Binance After Price Surge
A large holder has moved another $5 million in LINK from Binance, raising total holdings above 1.6 million LINK and signaling continued strategic accumulation.
LINK
Summary
Onchain Lens reported that a newly created wallet withdrew 280,907 LINK worth approximately $5 million from Binance. This increases the whale’s total holdings to over 1.6 million LINK, valued at nearly $29 million. The entity previously moved 597,957 LINK ($11 million) during a 12% price surge and had accumulated 1.343 million LINK at an average price of $17.46, yielding around $2 million in unrealized gains. These transactions underscore ongoing strategic accumulation by the market participant.
Terms & Concepts
- Whale: An individual or entity that holds large amounts of cryptocurrency, capable of impacting market prices through sizable trades.
- Unrealized Profit: The potential gain from an asset’s current market value compared to its purchase price, not yet locked in through a sale.
- LINK: The native cryptocurrency of the Chainlink network, used to pay for services within its decentralized oracle ecosystem.