Leading blockchain oracle service Chainlink (LINK) has seen $2.5 billion worth of it heading to cryptocurrency exchanges.
Analyst Ali Martinez said that within 24 hours on June 22, traders deposited millions of LINK into digital asset exchanges where they could be sold on the open market.
“18.77 million LINK worth approximately $256.2 million were transferred to cryptocurrency exchanges (in 24 hours)!”
The LINK token has fallen since being transferred to the exchange and is currently trading at $13.03.
Looking at Ethereum (ETH), Martinez reported that the leading smart contract platform has experienced the largest increase in daily active addresses since March.
“Ethereum saw its biggest surge in active ETH addresses in three months, reaching a total of 617,170 active ETH addresses.”
The analyst also says that the “crowd” is now more confident in Ethereum based on social media indicators.
As of this writing, Ethereum is trading at $3,375.
As for Bitcoin, Martinez said the cryptocurrency king is showing signs of waning investor interest.
“Bitcoin is experiencing a slowdown in exchange-related on-chain activity, indicating declining investor interest in BTC and decreased network usage.”
As of this writing, Bitcoin is trading at $62,265.
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