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Large transaction volumes typically represent the movements of"whales," or large holders with substantial amounts of cryptocurrency. The recent 1,453% spike in LINK’s large transaction volume might suggest that these large players may be making significant moves. The reasons for the large transaction volume rise might be varied, however, one could include market speculation, as whales might be positioning themselves for a significant price move.
The substantial increase in transaction volume could be a precursor to a coordinated buying or selling strategy aimed at capitalizing on upcoming market movements.noted that in the last 24 hours, 18.77 million LINK tokens valued at approximately $256.20 million were sent to cryptocurrency exchanges.Blockchain data tracker WhaleAlert reports four transactions totaling over 18 million LINK being sent to the Binance crypto exchange from an unknown wallet.
The four transactions are as follows: two transactions carrying 3,499,999 LINK worth $49,267,056 being sent to Binance from an unknown wallet. In two separation transactions, 6,999,999 LINK worth 98,502,247 and 4,749,999 LINK worth $66,325,386 were transferred from an unknown wallet to Binance., 21 million LINK worth $295 million have been unlocked from Chainlink's noncirculating supply contracts, including 18.
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