According to the latest report from blockchain data tracker The Data Nerd, on January 28, a long-term LINK holder with address 0x8c6 deposited 139,000 LINK tokens, worth approximately $1.67 million, to Binance eight hours ago.
Estimated $520,000 Loss for Long-Term Holder
This address accumulated the tokens over the past eight months at an average price of about $15.7. If sold at current prices, the whale would realize a loss of approximately $520,000, suggesting it could be an early investor who hasn't turned a profit.
Additional Whale Movements Spark Market Speculation
Besides this transfer, two other whale addresses also moved around 520,000 LINK tokens worth roughly $6.24 million to Binance and Coinbase. Such large movements often serve as key market indicators.
- Whale transfers may signal potential short-term price fluctuations
- Funds flowing to CEX platforms could indicate selling intentions
- Market participants closely watch follow-up trading activities
Although the exact motivations remain unclear, such significant movements often attract high market attention in the crypto space and could potentially influence price trends.