Chainlink Whale Executes Rapid Transfer of $79.7 Million LINK in Only 11 Minutes
Chainlink (LINK) witnessed three large whale transactions on March 3, adding up to a whopping $79.7m, according to crypto market intelligence platform Santiment. The transactions were made by a “whale address” and moved 11.6 million LINK, in three transactions less than 11 minutes apart. The whale moved 3.9m LINK in the first trade before moving another 4 million LINK and then 3.5 million LINK a minute later. Santiment said the whale’s actions caused the most significant jump in on-chain transactions for Chainlink since December 9, 2022. However, when the transactions were going on, Chainlink’s price fell by 7% in the last 24 hours to hit its lowest price since Valentine’s Day. Moreover, yesterday’s prices affected the rest of the cryptocurrency market, with major coins such as Ethereum (ETH) and Bitcoin (BTC) dropping by 5%, and Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), and Polkadot (DOT) falling by 2-5%.