Deep-pocketed investors are suddenly scooping up massive amounts of Chainlink (LINK) and one other Ethereum (ETH)-based altcoin, according to on-chain data.
The blockchain data tracker Lookonchain noticed that newly created crypto whale wallets were accumulating two digital assets Wednesday using the top global crypto exchange Binance.
[adinserter block="1"]One crypto whale scooped up more than $4 million worth of decentralized finance (DeFi) protocol Maker (MKR), according to Lookonchain.
“Fresh whale wallets are accumulating MKR and LINK today.
0xE68E withdrew 3,150 MKR ($4.55M) from Binance [Wednesday].”
Maker is trading for $1,489 at time of writing, up 4.8% in the last 24 hours.
Lookonchain says another whale is accumulating large amounts of decentralized oracle provider Chainlink, having loaded up more than $2 million worth of LINK Wednesday, on top of the nearly $5.8 million the whale bought 10 days prior.
“0x8eAD withdrew 136,146 LINK($2.05M) from Binance [Wednesday] and has withdrawn 384,006 LINK ($5.79M) from Binance in the past 10 days.”
Chainlink is trading for $16.40 at time of writing, up 9.4% in the last 24 hours.
Lookonchain also noticed that one crypto whale made enormous profits trading decentralized finance (DeFi) lending protocol Aave (AAVE).
“In 3.6 years, this early AAVE buyer turned $500,000 into $13 million, making $12.5M (25x)! He sold 30,000 AAVE($3.01M) via Cumberland to take profits [Tuesday] and has 100,000 AAVE($10M) left. He spent 500,000 USDC to buy 12.5M LEND at $0.04 on May 6, 2020 (migrated to 12,500 AAVE).”
Aave is trading for $109.50 at time of writing, up 6.6% in the last 24 hours.
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