According to on-chain data, Chainlink (LINK) whale moves have skyrocketed 3,373% over the last 24 hours. The surge coincides with a sell-off in the broader crypto market, resulting in $458 million in liquidations.
Per IntoTheBlock data, Chainlink saw a massive increase in the volume of large transactions, which are defined as transfers of more than $100,000.
In the recent 24 hours, large transaction volume, which suggests whale or large holder activity, increased 3,373.02% to $762.7 million, or 59.63 million LINK. This is the highest figure in the past seven days and nearly three months.
The surge follows Chainlink’s token unlock, which saw Chainlink non-circulating supply wallets deposit 17.875 million LINK (valued at $149 million) into Binance. Over the last 24 hours, large movements were detected by blockchain data trackers. Whale Alert reported in recent hours that “1,999,999 LINK worth $25,094,489 was transferred from unknown wallet to Binance.”
Crypto market dips
At the time of writing, Chainlink was down 3.13% in the last 24 hours to $12.66, mirroring the sell-off in the broader crypto market, which has witnessed $458 million in liquidations, according to Coinglass.
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