Ripple XRP | Chainlink Whale moves $79.7m LINK in 11 minutes

Chainlink Whale moves $79.7m LINK in 11 minutes

Crypto market intelligence platform Santiment on Mar. 3 detected three large whale transactions totaling $79.7m on the Chainlink (LINK) platform.

Transactions valued at $79.7 million

A whale address transferred 11.6m LINK worth $79.7m in three transactions within 11 minutes of each other during the final trading hours of Mar. 3. 

In the first transaction, the whale moved 3.9m LINK. A few moments later, the wallet moved a second batch of 4m LINK, followed by another 3.5m LINK a minute later.

According to Santiment, the whale’s activities resulted in Chainlink’s biggest on-chain transaction spike since Dec. 9, 2022. The on-chain data provider also stated that the total value of the three transactions put them in the top five crypto transactions of the year so far.

When the transactions were taking place, Chainlink had started a new slump over the last 24 hours, with its price dropping 7% to go as low as $6.7.

The downturn meant LINK dropped below its $7 support level and reached its lowest price since Valentine’s Day.

However, at the time of writing, it was up 0.78% per data from CoinMarketCap.

Chainlink Whale moves $79.7m LINK in 11 minutes - 1

LINK price movement | Source: CoinMarketCap

The current live LINK price is $6.94 with a $224.4m 24-hour trading volume. The token has a live market cap of $3,587,678,184, standing at 19th in the market cap leaderboard. It has a maximum supply of 1 billion LINK and a circulating supply of more than 517 million LINK.

The crypto market is down

Meanwhile, the broader crypto market was also impacted by yesterday’s values, as Ethereum (ETH) also fell 5% to $1,500, and Bitcoin (BTC) fell 5% to slip below $22,500. Ripple (XRP), one of the top altcoins, fell 2% to $0.37. In comparison, Cardano (ADA) and Dogecoin (DOGE) fell 3% and 5%, respectively, with the latter falling to $0.07. Polkadot (DOT) is also down 5%, falling to $6.0.

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