The cryptocurrency market is witnessing active accumulation of Chainlink and Ethereum by major investors, including whales and institutional players.
Whales Accumulating Chainlink
Over the past two days, a whale named 0x3c9E withdrew 510,000 LINK (worth $11.13 million) from Binance and deposited it into the Compound platform. Other whales have also accelerated their buying; 0x42A1 spent $1.34 million on 59,560 LINK, while 0x848a purchased 44,846 LINK for $1 million just five hours ago.
Institutional Interest in Ethereum
A mysterious institution created two new wallets in the last hour, collecting 44,999 ETH ($194 million). Over the past week, the same institution has purchased a total of 266,165 ETH ($1.15 billion) from major platforms like FalconX, Galaxy Digital, and BitGo. It is also noted that many whales, like renowned crypto investor Arthur Hayes, are buying back ETH they previously sold.
Stablecoin Market Dynamics
The stablecoin market is experiencing significant activity, with the total market capitalization increasing by $2.376 billion. The amount of USDT and USDC held on Ethereum increased by $898 million, while Aptos saw a decline of $131 million. Additionally, the spot trading volume on decentralized exchanges (DEXs) reached $95.978 billion, showing a decrease of 6.95% compared to the previous week.
The growing interest of major players in Chainlink and Ethereum, along with activity in the stablecoin market, underscores a sustained focus on the cryptocurrency landscape.
