LINK Whales Increase Their Savings
Crypto whales are boosting their LINK positions with the release of the second spot ETF linked to Chainlink this week. nBitwise Asset Management released the Bitwise Chainlink ETF on NYSE Arca yesterday, making it the second LINK-based spot ETF to be traded in the US.
Beyond the institutional interest, Chainlink also attracts the attention of crypto whales. Data on the chain shows that a single whale wallet (0x10D9) drew 139,950 LINKS worth about $1.96 million from Binance.
This came after a previous accumulation phase where the same wallet took 202.607 LINKS worth about $2.7 million from the exchange.
"Right now, the whale has the 3,42,557 LINKs it has accumulated in the last 2 days," Onchain Lens said.
Onchain Lens also pointed to 0xb59, another whale wallet, which drew 207,328 LINKs worth about $2.78 million on January 12.
The increase in the interest of whales is not a development alone. BeInCrypto reported last week that large owners have accumulated significant amounts of LINKS. According to Nansen data, whale wallet balances increased by 1.37% last week, while LINK balances held on the exchange fell by 1% in the same period.
This difference shows that large investors take tokens from exchanges and take them under their own supervision. This is a pattern that is usually associated with long-term accumulation rather than short-term trading.
