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**250,000 Chainlink (LINK) at Risk of Sell-Off on Binance and OKX**
A recent report suggests that approximately 250,000 Chainlink (LINK) tokens are at risk of being sold off on popular cryptocurrency exchanges Binance and OKX. This news comes as a shock to the crypto community, especially considering the current price surge of LINK.
As reported by U.Today, Chainlink achieved the $29 price level for the first time in three years due to whale activities. It appears that these whales have been buying up the tokens dumped on the market by retail investors, sustaining the price increase. The cumulative value of these tokens amounts to around 5.69 million LINK over the past few weeks.
Analysts are now predicting that Chainlink might rebound soon, given its recent 142% increase in active address counts. However, this optimistic outlook may be threatened if a significant portion of these 250,000 LINK tokens is sold off on Binance and OKX.
This sudden influx of sell orders could potentially lead to a market correction, which would undermine the momentum Chainlink has been building lately. On the other hand, some experts believe that whales may absorb this sell-off, leading to even higher prices in the future.
The uncertainty surrounding this situation highlights the need for cautious investment decisions and close monitoring of market trends.
Source: u.today
