According to Intotheblock data by Sentora, ChainLink is surged by 125% on large transaction volumes, a metric indicating whale activity. Over the past 24 hours, ChainLink’s large transaction volume has reached $13394 million, or 8 million links on Crypto terms.
On-chain data reveals that millions of recent link tokens have been transferred recently, suggesting that key players are relocating for the possibility of the next price transfer for chain links.
According to the Blockchain Tracker Whale Alert, over 2.5 million links have been shifted from a bibit crypto exchange to an unknown wallet in two transactions.
Whale Alert reports separate transactions of 1,250,000 links worth $20,513,896 and 1,289,995 links, worth $20,513,896, and individual transactions of 1,289,995 links, transferred from the Bibit Cryptographic Exchange to an unknown wallet.
Withdrawal from the exchange reveals the intention to buy, but deposits can mean sales. Therefore, the recent move could be accumulation by whales and large-scale holders, or it could be simply a restructuring of funds.
ChainLink is attracting attention
ChainLink is attracting attention as the 12th largest cryptocurrency due to its market capitalization. In response to Chairman Paul Atkins’ remarks on the Crypto Task Force Roundtable, ChainLink said that traditional securities tokenization marks a new era for the US capital markets, bringing greater access, transparency and resilience to the market. He added that creating a reasonable regulatory framework for the cryptocurrency market will result in the inevitable tokenization of all assets.
At the time of pressing, the price of Chain Link fell 1.31% to $16.65 over the past 24 hours, reflecting current profits in the market. However, it is up 17% each week.
According to the Bureau of Labor Statistics, inflation rates in April were slightly lower than expected, with the consumer price index rising seasonally for the month, reaching its lowest level of 2.3% since February 2021. Crypto Markets responded little to the news, but some Crypto assets were traded in red at the time of reporting.
