Crypto Whales Benefit from Bitcoin, Ethereum and Chainlink Drops, According to Lookonch
Crypto whales are buying the correction in digital asset markets, according to blockchain tracking firm Lookonchain.
Lookonchain says that while the price of Ethereum was falling, a “smart whale” with a solid track record of profitable trading bought the dip with over 3,600 ETH.
“After the price of ETH dropped [on Friday]This smart whale bought back 3,600 ETH ($8.9 million) at a lower price…
This whale is very good at buying ETH at low prices and selling it at high prices.
Profit now ~$25.8 million!”
Source: Lookonchain/X
At the time of writing, ETH is trading at $2,470.
Lookonchain also noticed that a whale caught decentralized oracle provider chainlink (LINK) falling to the $14.81 level.
After LINK’s price dropped [on Friday]One whale spent $8.9 million to buy 601,949 LINK at $14.81, along with three new wallets.
Source: Lookonchain/X
LINK’s price appeared to stabilize following the massive whale buy. At the time of this writing, LINK is trading at $15.53.
Looking at Bitcoin, the on-chain data tracking firm says a crypto whale withdrew nearly $30 million worth of BTC from crypto exchange Binance as the price fell below the $42,000 level.
“Looks like a whale is buying BTC!
“During the recent market decline, a new wallet emerged from binance withdrawing 700 BTC ($29.36 million) at an average price of $41,948.”
Source: Lookonchain/X
At the time of writing, BTC is trading at $41,570.
Image Created: Mid-Journey
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