An anonymous crypto whale deposited 356,000 LINK tokens on Binance on June 8, 2025, which may lead to short-term price pressure.
Massive LINK Deposit Sparks Market Speculation
On June 8, 2025, an anonymous crypto whale deposited 356,000 LINK tokens on Binance within 24 hours. These tokens were accumulated over three years from Kraken, at an average cost of $7.03. With current prices around $14.53, this translates to a potential profit of $2.43 million.
Whale's $2.43M Profit: Context and Reactions
Market observers note that this large deposit could trigger short-term selling pressure on LINK's price, though no official statements from Chainlink or Binance leadership have been reported. The community's reaction has been muted, viewed as a standard profit-taking action rather than an indication of long-term shifts in Chainlink's fundamentals.
LINK Market: Current Status and Dynamics
Currently, LINK is priced at $13.59 with a market cap of about $8.93 billion. The 24-hour trading volume is $193.22 million, marking a 39.91% decrease. While large deposits may introduce short-term volatility, they are typically aligned with transient market adjustments.
The recent deposit by an anonymous whale on Binance highlights the influence of large investments on the LINK market, though the long-term impact on fundamental indicators remains uncertain.
