An unknown entity, likely an institution, has accumulated nearly a quarter of a billion dollars worth of oracle provider Chainlink (LINK), according to on-chain data.
Blockchain tracking firm Lookonchain initially reported earlier this month that a series of fresh wallets belonging to a mysterious institution had started withdrawing large amounts of LINK from crypto exchange Binance.
[adinserter block="1"]Less than two weeks later, Lookonchain says there are now dozens of wallets that may belong to the same institution that collectively accumulated more than $200 million worth of LINK.
“83 fresh wallets(may belong to the same institution) withdrew a total of 11,097,687 LINK( $216.4 million) from Binance in the past two weeks.”
In the month of February, LINK is up over 30%, currently trading for $20.22.
Recently, closely followed crypto analyst Altcoin Sherpa expressed long-term bullishness on Chainlink, suggesting that LINK just successfully broke out of a range between $12 and $16.
He said LINK is likely going higher over the long term.
“LINK: things still look ok on HTF (high timeframe) for LINK. I think this is going to keep going higher in the long term, but I don’t really like this one as much for short-term trades. Volatility is kind of meh (but liquidity is good).”
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