A cryptocurrency wallet linked to Chainlink ( $LINK ) developers has transferred 79,474 LINK tokens, worth approximately $1.12 million, to Coinbase after a five-year dormancy period. According to on-chain data, the wallet had been inactive since 2020, and the transfer has sparked curiosity among crypto enthusiasts.
The transferred tokens were accumulated between October 2018 and February 2020, with an average purchase price of around $0.68 per LINK. If the developers had sold the tokens at the current market price of $14.13, they would have made a profit of 1958% on their investment, amounting to $1.06 million.
Interestingly, the wallet's owners might have missed an opportunity to maximize their profits by not selling during the 2021 bull run, when LINK's price surged to an all-time high of $52. If they had sold at that price, their profit would have been significantly higher.
The reasons behind the transfer are unclear, but it could indicate a potential sale or reallocation of assets. As the cryptocurrency market continues to evolve, investors and enthusiasts will be keeping a close eye on Chainlink's developments and the impact of this transfer on the market.
