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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U. Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Chainlink (LINK) has seen a 175% surge in large transaction volume, which is indicative of whale activity.
IntoTheBlock classifies large transactions as those where an amount greater than $100,000 is transferred. In this case, the Large Transactions Volume indicator measures the aggregate amount in crypto terms transferred in such transactions.
Chainlink’s large transaction volume surged by 175.28% to total $338.96 million in the last 24 hours.
A massive spike has been seen in large transaction volume, which rose from 6.17 million LINK on Feb. 19 to 17.65 million LINK on Feb. 20.
Large Transaction Volume provides an idea of the total amount transacted by whales on a given day. Spikes in large transaction volumes often indicate high activity among institutional players, either buying or selling.
Within the last 24 hours, there have been mysterious movements of millions of LINK tokens by some large-scale investors, also known as whales.
According to Whale Alert, a service that tracks and reports large crypto transactions, whales have transferred millions of LINK tokens between different wallets and exchanges in the past 24 hours. Whale Alert reported two such transactions.
In recent hours, an unknown whale wallet shifted 4,314,062 LINK worth $79,065,694 to an unknown wallet. Also, 2,402,942 LINK worth $46,491,692 were transferred from BlockFi to an unknown wallet.
At the time of writing, Chainlink was down 5.40% in the last 24 hours to $18.33, mirroring the general market declines.