If you’ve been following our channel, you’ll know by now that whales are a big part of our tools. We monitor what whales are accumulating to give you insight on what to focus on. Whales play a huge role in our market.
Their movements can lead to price surges or declines. So if you want to know which crypto whales have been up to in the past few days, then this is for you. Stay to the end because every token on this list matters.
Chainlink is our first token for today. The LINK token has seen a 9.20% price increase in the past 7 days. And that’s because whales have been active with this token. So, about 35 new addresses have withdrawn 755,687 $LINK ($5.08M) over the past few days, which could mean they are accumulating the token.
Whales are accumulating $LINK recently.
— Lookonchain (@lookonchain) March 20, 2023
It is a good project. So, it makes sense if whales are involved with it. Chainlink has a good track record and a long-term value proposition. Chainlink is a leading decentralized Oracle network. It provides real-world data for smart contracts. Projects such as:
- Synthetix and DeFi aggregators like Yearn.finance currently use Chainlink.
One reason whales could be interested in LINK is because it is undervalued. LINK currently trades around $7.47. This is a huge distance from its all-time high of $52.88. So, there’s a strong possibility for LINK to appreciate in the future.
More About LINK
Whales are getting bullish on crypto once again. And it makes sense that they show interest in LINK because of its value and in anticipation of a rebound. Prominent on-chain analyst Ali Martinez revealed that wallets holding between 10,000 and 1 million LINK tokens have added four million to their cumulative supply since the beginning of September. This is indicative of a bullish trend.
🔗👍 #Chainlink continues to be one of the best #crypto performers in September. Unlike many other assets, its price often sees an initial lift when $LINK moves to exchanges. Its price is +23% in 2 weeks as exchange supply now flows back to cold wallets. https://t.co/mocTwCW3vR pic.twitter.com/juDXb70iTX
— Santiment (@santimentfeed) September 25, 2023
Fortunately, wealthy investors weren’t the only ones who showed an increased interest in LINK’s prospects. Data from Santiment shows that retail investors, who made up a small portion of the whale’s holdings, also opened their wallets to buy more LINK tokens. Retail accumulation offers useful information about a token’s appeal and potential for mass adoption. However, it is not a major factor in short-term price increases.
2) Curve Finance (CRV)
CRV is second on our list today. CRV whale accumulation has triggered a 12% price surge. The total volume of these whale transactions has exceeded 50 million CRV tokens ($27 million). One of the transactions involves the wallet address “0xDf14”. This whale took out 5.12 million $CRV tokens, valued at approximately $2.7 million, from Binance.
— Sie Ming Fong (謝銘峰) 🦇 🔊 (@SieMingFong) September 22, 2023
That’s not all. The same wallet has withdrawn about 19.56 million $CRV from Binance in the last three days. This is equivalent to around $10.33 million. It’s interesting that this whale staked all of its $CRV holdings on Convex, demonstrating unwavering faith in the token’s potential.
These whale movements have had a significant effect on $CRV. Today, the token had a huge 12% price increase, which can be partly attributed to the accumulation activities of these powerful players.
The whale (0xdf…3ad4) has withdrawn a cumulative 19.56 million CRV (worth approximately $10.2 million) from Binance over the past 3 days and subsequently staked it all in Convex. In the past 24 hours, CRV has increased by more than 10%. According to @EmberCN…
— Wu Blockchain (@WuBlockchain) September 25, 2023
The recent resurgence of CRV in a challenging setting and the presence of active whales highlight its resiliency and growth potential. CRV could be set for a good run if it’s able to sustain this momentum.
3) Arbitrum (ARB)
Investors have been accumulating ARB tokens despite recent price fluctuations. This indicates a strong sense of investor confidence. Arbitrum recently welcomed Chainlink’s Cross-CCIP mainnet. This has been a boost to the ARB ecosystem.
— Lookonchain (@lookonchain) September 23, 2023
ARB whales have shown massive support for the token lately. A popular whale recently bought 2.28 million ARB tokens through FalconX, worth about $1.86 million, according to data from on-chain expert Lookonchain.
ARB dropped to $0.74 on September 11. This was part of the general market downtime, which also saw Bitcoin fall under $25,000 that day. However, the token recovered, garnering interest from buyers at about $0.87 before leveling off close to $0.82.
🐋 Whale alert! 🚨
Whale 0x695 dives back into $ARB despite a $5.67M loss:
💸 Total investment: $21.7M
💰 Realized loss: $2.69M
💼 Still holds 8M $ARB ($6.12M)
— Red Willy (@rink3y) September 22, 2023
As Arbitrum grows further, it will become a more appealing option for those looking to maximize their Ethereum-based initiatives. The adoption of the Chainlink protocol and increased whale activities are good signs for the token.
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