Crypto Whales Move Over 6 mln LINK, Part of That Sent to Binance and Huobi as Coin Keeps Dropping

Whale Alert has reported that whales have been moving their LINK stashes to Binance, while Chainlink remains in the fall after the massive rally

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Almost 4,000,000 mln LINK has been recently moved, with one fourth of it going to Binance from anonymous wallets as one of the most popular altcoins is still in decline after the peak price it achieved recently.

Besides, the most recent major crypto fan Dave Portnoy of Barstool Sports has turned his back on LINK and Bitcoin, criticizing LINK marines.

3,954,000 LINK wired recently

The major Twitter bot Whale Alert posted data about three major LINK transfers. Two of them were sent to Binance exchange, bearing 554,267 and 400,000 LINK – $7.8 mln and $5.7 mln.

Those coins were likely to be cashed out, the community in the comment thread believes.

Image via Twitter

Prior to that, 3,000,000 LINK was transferred between two anonymous wallets ($44,100,785). The receiver’s address - 0xb407ee8ce1cc8c58fd824bbaa58ff1c6e589c1c4 – now holds spot 65 on the top-100 list of Chainlink token holders, according to Etherscan.

The address holds 750,708.260169039031453856 LINK, which is 0.0751% of the supply.

Image via etherscan

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More holders start moving their LINK riches - 2,283,037 LINK

Apart from the aforementioned transfers, seven more transactions had been spotted, bearing 2,283,037 LINK. Five of those wires carried from 300,000 to 500,000 LINK.

Two of the transfers (around 70,000 LINK each) were directed from unknown wallets to exchanges – Binance and Huobi.

The rest of the crypto was moved between wallets with anonymous owners.

Image via Twitter

After a monstrous rally that happened just recently and pushed LINK above the $19 level, a massive correction started, making now the coin change hands at $14.64, according to CoinMarketCap.

Dave Portnoy dumps his LINK and Bitcoin

Just yesterday, the founder and CEO of Barstool Sports Dave Portnoy, earlier ‘converted’ in crypto by the Winklevoss twins, tweeted that he got disappointed in crypto.

After putting $200,000 into BTC and $50,000 into LINK, he wrote that he lost $25,000 and now owns zero Bitcoin and Chainlink.

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Yuri Molchan

Yuri entered the crypto sphere at the BTC price peak in 2017, quickly turning into a crypto enthusiast. He has written for several media, covering everything from TA to ICOs and crypto regulations. Presently is a news writer, working with crypto and blockchain-related topics.