LINK Shows Extremely Suspicious On-Chain Activity as Largest Amount Since Genesis Gets Moved


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Yuri Molchan

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LINK volumes shifted by whales have nearly soared above 2017 record high when LINK trading opened for first time ever

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Santiment on-chain data agency’s team have taken to Twitter to share that a staggering cumulative amount of LINK has been moved as the token’s price dropped, beating the record set in 2017 after the token’s genesis.

80.8 million LINK on the move—5-year record almost broken

The tweet shows that despite a tiny price drop of 4% faced by LINK, on Tuesday, a cumulative 80.8 million unique LINK were transferred. This was the second biggest after the fall of 2017 when a huge amount of native Chainlink tokens was shifted when LINK only started trading.

LINK getting drained from exchanges en masse

Data provided by another popular on-chain data company, Glassnode, shared by Twitter user @Jay_DCA shows that huge amounts of LINK are being withdrawn from centralized crypto exchanges as, apparently, holders are moving their coins into cold wallets for long-term storage.

At press time, LINK is changing hands at $6.42 after a nearly 5% drop in the past 24 hours, according to CoinMarketCap.




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