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    Home » Crypto whales are benefiting from declines in Bitcoin, Ethereum, and Chainlink, according to Lookonchain
    Crypto

    Crypto whales are benefiting from declines in Bitcoin, Ethereum, and Chainlink, according to Lookonchain

    ZEMS BLOGBy ZEMS BLOGJanuary 21, 2024No Comments2 Mins Read
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    Crypto whales are buying the correction in digital asset markets, according to blockchain tracking firm Lookonchain.

    Lookonchain says that as the price of Ethereum fell, a “smart whale” with a track record of profitable trades bought the dip for more than 3,600 ETH.

    “After the price of ETH fell [on Friday]This smart whale bought 3,600 Ethereum ($8.9 million) at a lower price…

    This whale is very good at buying ETH at low prices and selling ETH at high prices.

    Profit is ~$25.8 million currently!

    source: LeConchain/X

    At the time of writing, ETH is trading at $2,470.

    Lookonchain also spotted a whale taking over decentralized oracle provider Chainlink (LINK) as it fell to the $14.81 level.

    After the price of LINK fell [on Friday]the whale spent $8.9 million to buy 601,949 links at $14.81 with three new wallets.

    source: LeConchain/X

    LINK price seems to have stabilized after major whale buying. At the time of writing, LINK is trading at $15.53.

    Looking at Bitcoin, the on-chain data tracking company says a crypto whale withdrew nearly $30 million worth of Bitcoin from cryptocurrency exchange Binance as the price fell below the $42,000 level.

    “Looks like a whale is buying Bitcoin!

    In the recent market dip, a new wallet pulled 700 BTC ($29.36 million) from Binance at an average price of $41,948.

    source: LeConchain/X

    At the time of writing, Bitcoin is trading at $41,570.

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    Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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