Deep-pocketed investors are suddenly buying huge amounts of Chainlink (LINK) and other Ethereum (ETH)-based altcoins, according to on-chain data.
Blockchain Data Tracker Lookonchain notice The newly created cryptocurrency whale wallet was using leading global cryptocurrency exchange Binance on Wednesday to accumulate two digital assets.
According to Lookonchain, one cryptocurrency whale has bought over $4 million worth of decentralized finance (DeFi) protocol Maker (MKR).
“Today, MKR and LINK are accumulating in new whale wallets.
0xE68E withdrew 3,150 MKR ($4.55 million) from Binance (Wednesday).”
Maker is trading at $1,489 at the time of this writing, up 4.8% in the last 24 hours.
Lookonchain said another whale was heaping on decentralized oracle provider Chainlink, loading $2 million worth of LINK on Wednesday, on top of about $5.8 million it bought 10 days earlier.
“0x8eAD withdrew 136,146 LINK ($2.05M) from Binance (Wednesday) and 384,006 LINK ($5.79M) from Binance over the last 10 days.”
Chainlink is trading at $16.40 at the time of this writing, up 9.4% in the last 24 hours.
Look on chain too notice A cryptocurrency whale has made huge profits by trading the decentralized finance (DeFi) lending protocol Aave (AAVE).
“In 3.6 years, these early AAVE buyers turned $500,000 into $13 million, earning $12.5 million (25x)! He sold 30,000 AAVE ($3.01M) through Cumberland for a profit (Tuesday) with 100,000 AAVE ($10M) remaining. He spent 500,000 USDC to purchase 12.5 million LEND at $0.04 on May 6, 2020 (transferring to 12,500 AAVE).”
Aave is trading at $109.50 at the time of this writing, up 6.6% in the last 24 hours.
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Featured image: Shutterstock/Tithi Luadthong