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Home»ALTCOIN NEWS»Analysts have revealed that more than $256 million from Chainlink (LINK) was suddenly transferred to cryptocurrency exchanges in just 24 hours.
ALTCOIN NEWS

Analysts have revealed that more than $256 million from Chainlink (LINK) was suddenly transferred to cryptocurrency exchanges in just 24 hours.

By Crypto FlexsJune 25, 20242 Mins Read
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Analysts have revealed that more than 6 million from Chainlink (LINK) was suddenly transferred to cryptocurrency exchanges in just 24 hours.
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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)!”

Source: Ali Martinez/X

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.”

video
Source: Ali Martinez/X

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.”

video
Source: Ali Martinez/X

As of this writing, Bitcoin is trading at $62,265.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

Image created by: Midjourney

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