In a significant move, a whale investor has accumulated a substantial amount of Chainlink (LINK) tokens, spending $2.58 million to purchase 93,271 LINK.
According to Onchain Lens, the whale wallet, which had been dormant for 293 days, became active in the past hour, executing this large-scale acquisition.
The average price paid by the investor was $27.71 per LINK token.
Whale Wallet Holds Significant LINK and ETH Reserves
After the purchase, the whale wallet sent 93,171 LINK back to its main holding address, retaining only 100 LINK.
This whale wallet now holds a total of 94,533 LINK worth $2.62 million, along with 1,991 ETH valued at $7.79 million.
The consolidation of these substantial cryptocurrency holdings under a single entity underscores the whale’s confidence in the long-term potential of both Chainlink and Ethereum.
Chainlink Price Surge Linked to Trump Family Crypto Project
The recent surge in Chainlink’s price, which has seen a 27.41% increase in the last 24 hours and a 20.21% rise in the past 7 days, can be partially attributed to the activities of the Trump family’s crypto project, World Liberty.
According to Lookonchain, the World Liberty Multisig wallet has spent $10 million in USDC to acquire 2,631 ETH, $1 million in USDC to buy 41,335 LINK, and $1 million in USDC to purchase 3,357 AAVE.
Chainlink’s Market Capitalization and Trading Volume
With a circulating supply of 630 million LINK tokens, Chainlink’s market capitalization currently stands at $18.3 billion.
The 24-hour trading volume for the cryptocurrency has reached $3.21 billion, further underscoring the level of investor interest and market activity surrounding the Chainlink ecosystem.
Implications of Whale Accumulation and Price Surge
The significant investment by this whale investor, coupled with the broader market activity driven by the Trump family’s crypto project, suggests a growing confidence in Chainlink’s long-term prospects.
This influx of capital and the resulting price surge could attract increased attention and investment from other market participants.
Potentially accelerating Chainlink’s adoption and positioning it as a highly sought-after digital asset in the decentralized finance (DeFi) and blockchain technology sectors.
Also Read: WIF Investor Turns $393K Into $3.47M Profit on 1.2M $WIF Token Holding