Amid geopolitical crises and market upheavals, Chainlink stands out due to significant investor activity.
Market Under Liquidation Pressure
In the last 24 hours, the cryptocurrency market experienced significant losses, with liquidations amounting to between $654 million and $701 million, mainly on long positions. These events reminded traders of the unexpected brutality of the market, where around 173,000 investors suffered, and most altcoins, including Chainlink, saw price drops of 6-7%.
Whale Activity on Chainlink
Despite the widespread panic, major players known as 'whales' demonstrated considerable activity in Chainlink. Recently, over $762 million has been transferred in transactions, up by 3,373% compared to usual transfers exceeding $100,000. One transaction in particular valued at $25 million caught attention, which was just a part of the total $149 million transferred to Binance.
Global Factors Impacting the Market
The panic in the crypto market was fueled not only by internal factors but also by global politics. Recent military actions by the U.S. in Iran once again prompted investors seeking safe assets, aggravating the situation. On the macroeconomic level, the Federal Reserve adopts an ambiguous approach, maintaining a key interest rate between 4.25% and 4.5%, which creates uncertainty in the market, especially in the crypto space, where volatility is prevalent.
The cryptocurrency market is complex and unpredictable. Nevertheless, the active actions of whales in Chainlink may signal potential positive changes in the future, making it a valuable asset for further investment.
