The Bitcoin and altcoin market has been quite volatile lately. Despite these fluctuations, some investors continue to maintain their faith in certain projects. Latest on-chain data shows a potential increase in investor interest in LINK, the native token of the popular oracle network Chainlink. According to data from the cryptocurrency tracking platform called Lookonchain, 54 newly created wallets from Binance withdrew a total of 2.08 million LINK (approximately $30.28 million) in the last 7 days.
The focus of those addresses is altcoin LINK
Latest on-chain data shows a potential increase in investor interest in LINK, the native token of the popular oracle network Chainlink. According to data from the cryptocurrency tracking platform called Lookonchain, 54 newly created wallets from Binance withdrew a total of 2.08 million LINK (approximately $30.28 million) in the last 7 days. This movement may suggest that “whales,” which are often associated with large cryptocurrency transfers, are accumulating LINK. The amount of LINK withdrawn by each of the first 23 of the 54 new wallets is as follows:

While the total amount of LINK withdrawn exceeds 2 million, a significant portion of the transfers involve more than 1 million LINK at a time. This situation strengthens the possibility that big investors are behind the transfers. LINK is the native token of Chainlink, the oracle network that enables smart contracts to securely access external data. The Chainlink network is critical for decentralized finance (DeFi) and other Blockchain applications. Despite the recent decline in the overall cryptocurrency market, the LINK price remains relatively stable. This may reflect investors’ confidence in LINK’s long-term potential.
LINK is also in the focus of developers
Meanwhile, in a post on Twitter on July 1, Santiment announced the top 10 projects according to the number of GitHub events in June. Chainlink ranked second after Hedera with 526 events. This shows that Chainlink is being actively developed and has received a lot of interest from the developer community.
Withdrawals of large amounts of LINK from Binance may result in a decrease in the supply of LINK in the market, thus potentially increasing the price. However, it is too early to say anything definitive. The cryptocurrency market is highly volatile and the LINK price can be affected by various factors. In light of these developments, investors’ interest in LINK should be closely monitored. The accumulation of LINK by large investors can be an important signal about the token’s future price movements. However, as always, it is important to do your own research and carefully consider market conditions when making your investment decisions.
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