Chainlink Sees Surge in Whale Activity as ETF Inflows Reach $822,000
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Increased Whale Activity: According to CryptoQuant's analysis, Chainlink has seen a significant rise in whale activity, with daily withdrawals increasing from 1,500 to 4,500, indicating that large investors are capitalizing on price corrections to enhance their holdings, potentially providing a price floor for LINK.
- Price Range Volatility: Currently trading between $12 and $13, LINK has faced a steep 50% price correction, yet the ongoing accumulation by whales may signal potential for a future price rebound, suggesting resilience in the market.
- ETF Inflow Situation: The latest ETF report indicates that Chainlink's inflows reached $822,000, the highest since late December, although this has not sparked significant investor excitement, reflecting a cautious market sentiment towards LINK.
- Market Dynamics Observation: While ETF investments could attract long-term institutional interest, LINK's spot price remains below $14, leading market participants to adopt a wait-and-see approach regarding future price movements, highlighting sensitivity to price changes.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
