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Chainlink Whale Activity Surges: 362,380 LINK Moved in 48 Hours
Whale activity has seen a dramatic surge with 362,380 LINK tokens moved in the span of just 48 hours. This significant movement could be indicative of growing interest and potential breakout momentum for the cryptocurrency.
A total of nine wallets have been involved in this massive transaction, which took place off Binance. The sheer scale of this activity is sparking speculation about a possible big move in the LINK price.
The chart currently indicates that Chainlink has been bearish, with prices dropping to $21.87 after peaking at $32 in November. However, the recent whale activity suggests there could be a reversal on the horizon.
A critical level of support stands at $21.87, and should this level hold, it is possible that the price will rise back up to $32 once more. Conversely, if the price breaks below this point, further declines may follow.
The data also shows an increase in transactions and active addresses on the Chainlink network, with a 0.76% and 0.83% growth respectively over the past day. This sudden surge in activity could be seen as evidence of growing interest in the cryptocurrency.
It is worth noting that while this whale activity may be indicative of increasing interest in LINK, it is essential to conduct thorough research before making any investment or trading decisions.
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Source: cryptonewsland.com
