LINK Experiences A Slight Price Downturn Following Significant Whale Sell-Off

The value of LINK has seen a minor drop, slipping below the $13 mark after a notable sell-off conducted by a whale investor just hours ago.

According to Spotonchain reports, the whale, identified by the address 0x9ed, shed 155,264 $LINK, converting it into $2.24 million worth of $ETH and $USDT in recent hours.

Between Oct 28 and Nov 9, 2023, the whale had amassed earnings of $836K from the initial trade. However, the latest transaction resulted in a loss of $697K for the investor.

Despite this setback, the report suggests that the whale still holds 309K $LINK ($4.4M) in their address and Aave, hinting at potential additional $LINK sales in the future.

8.2M $LINK Deposit On Binance

In a related update shared on X (previously Twitter), Lookonchain revealed that wallets representing Chainlink Noncirculating Supply deposited 8.2M $LINK ($119M) to Binance six hours ago.


These wallets have consistently made $LINK deposits to Binance every three months since Aug 26, 2022. Remarkably, these deposits tend to coincide with periods of lower prices, with subsequent increases following these actions.

As of the current moment, the LINK token is undergoing a modest decline and is presently trading within the $14 price level.

The cryptocurrency market remains under the influence of significant whale transactions, and LINK investors are vigilantly observing the situation, eager to see how the market will react to the recent substantial sell-off.

Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.