A crypto whale has moved 77,000 LINK tokens from Binance to an unknown wallet, sparking speculation about potential accumulation.
Large LINK Transfers from Binance
According to recent data, a crypto whale has withdrawn 77,000 LINK, worth about $1.05 million, from Binance to a new wallet. The most significant transfer occurred today, with 10,502 LINK moved for $145,461 from Binance’s hot wallet. Previous transfers from other Binance wallets indicate a strategy with these consecutive withdrawals.
Current State of LINK and Its Prospects
Amid the whale's activity, Chainlink (LINK) is showing signs of trend reversal. LINK has a market cap of about $9 billion, with daily trading volume increasing by 15%. Meanwhile, transactions over $100,000 have significantly dropped, indicating a slowdown in overall whale activity.
Chart Analysis and Predictions
On the daily chart, LINK recently tapped a demand zone at $12, accompanied by a hammer candlestick, indicating a bullish signal. However, a supply zone at $17 may serve as a resistance level. If the price breaks above this zone, LINK could rally to $24 or higher. Currently, LINK is trading at $13.76, up 1% in the last 24 hours.
The movement of LINK tokens by major players suggests interest in potential accumulation and price growth. If current trends continue, LINK's value could rise significantly.
