Four cryptocurrency whales have withdrawn over 400,000 LINK from the Binance exchange in the past 24 hours, equivalent to nearly 9.82 million USD.
This action shows a significant shift in the supply of LINK, reflecting the sentiment and strategy of influential investors in the cryptocurrency market.
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4 whales withdrew a total of over 400,000 LINK from Binance.
The withdrawal value is equivalent to nearly 9.82 million USD.
The amount of LINK retained after withdrawal ranges from 273,000 to over 721,300 Tokens per whale.
How much LINK did 4 whales withdraw from Binance in the last 24 hours?
In the past 24 hours, 4 whales have withdrawn a total of over 400,000 LINK, worth about 9.82 million USD, from the Binance exchange according to data from The Data Nerd.
Specifically, the withdrawn amounts are: 102,250 LINK (2.47 million USD), 43,133 LINK (1.04 million USD), 169,600 LINK (4.14 million USD), and 89,900 LINK (2.17 million USD). This is a significant amount of Tokens, reflecting a notable action of this group of investors in the market.
How much LINK are whales holding after withdrawing from the exchange?
After withdrawing a large amount of LINK, the whales still maintain a significant amount of Tokens in their wallets, ranging from 273,000 to 721,300 LINK, equivalent to a value from 6.6 to 17.44 million USD.
Holding a large amount of Tokens after withdrawal indicates that the strategy may not be to sell off, but rather to transfer to personal wallets or cold wallets to protect assets and increase safety against market fluctuations.
The withdrawal of a large volume of Tokens from the exchange reflects the caution of large investors in the current cryptocurrency market.
Blockchain Market Analyst, 2024
What is the impact of the LINK withdrawal on the cryptocurrency market?
The move to withdraw a large amount of LINK from the Binance exchange may affect liquidity on the exchange and indirectly influence Token prices in the spot market.
When Tokens are transferred from exchange wallets to personal wallets, the likelihood of sudden sell-offs decreases, contributing to stabilizing or adjusting prices in the medium term.
Why are LINK whales withdrawing Tokens from the exchange?
Whales often withdraw Tokens to minimize the risk of hacking or asset freezing on centralized exchanges while increasing personal control over their assets.
This move may also serve the purpose of staking, using as collateral, or preparing to participate in DeFi activities outside the exchange.
Real-life examples of LINK withdrawals from large whales
Whale Wallet LINK Withdrawn (Token) Withdrawn Value (USD) LINK Retained (Token) Retained Value (USD) 0x99b 102,250 2.47 million 273,000 6.6 million 0x4a8 43,133 1.04 million 312,300 7.7 million 0xa36 169,600 4.14 million 275,000 7.7 million 0x4EB 89,900 2.17 million 721,300 17.44 million
Frequently Asked Questions
Do whales often withdraw Tokens?
This is a common action when whales want to protect their assets or prepare for large activities outside the exchange.
How does withdrawing LINK affect the price?
Withdrawing a large amount of Tokens from the exchange can reduce liquidity, thus affecting the market positively or negatively depending on market sentiment and the purpose of using the Tokens.
Why do whales transfer Tokens out of centralized exchange wallets?
To reduce security risks and have better control over their assets, whales often transfer Tokens to personal wallets or cold wallets.
Does the withdrawal of Tokens signal a price downtrend?
Not necessarily, as whales may just be transferring assets, not selling on the market.
How much LINK do whales typically hold in their wallets after withdrawal?
Typically, they still maintain hundreds of thousands of Tokens, playing a stable role in long-term investment portfolios.
Source: https://tintucbitcoin.com/4-whales-withdraw-400-000-link-from-binance/
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