On-chain data shows the Chainlink whales have deposited $350 million of the asset into exchanges, a sign that could be bearish for LINK’s price.
Chainlink Large Transactions Volume Has Spiked Recently
As pointed out by analyst Ali in a post on X, LINK has recently observed a burst of activity on its network. The indicator of interest here is the “large transactions volume,” which measures the aggregate amount of Chainlink being moved in transfers worth at least $100,000 in value.
Generally, the only investors who make such large transactions regularly are the whales and institutional investors, so this indicator can provide us with hints about the total activity that these holders are displaying right now.
When the value of this metric is high, it means that the large players in the market are moving around a high number of tokens currently. This can imply that these investors are participating in buying or selling in the market, although it can’t point at which of the two the
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