Recently, significant fund movements by large holders were observed in the cryptocurrency market. Major assets like Chainlink and Ethereum became the focus of large withdrawals, potentially affecting prices and the overall market.
Withdrawals by Large Chainlink Holders
Two wallets, likely controlled by the same whale, withdrew 327,465 Chainlink (LINK) – worth about $7.17 million – from Binance after a month of dormancy. Combined, the wallets now hold 590,056 LINK valued at $12.9 million.
Large Transfers of Ethereum
Ethereum also saw major activity. A newly created wallet transferred 9,006 ETH, or roughly $40.2 million, out of Kraken.
Active Actions on HyperLiquid Platform
On derivatives platform HyperLiquid, whales moved aggressively. One deposited 1.59 million USDC to open leveraged short positions – ETH at 25x, BTC at 40x, and LEFT at 20x. Another funneled 2.4 million USDC into the platform to buy nearly 50,000 HYPE tokens at an average of $48.14.
These asset movements indicate activity among major investors in the cryptocurrency market, potentially foreshadowing further price changes for various cryptocurrencies. It will be important to observe how these actions impact the overall dynamics in the near future.
