Whales are snapping up this altcoin; Time to buy?
Chainlink (LINK) is seeing a surge in whale activity, signaling a possible continued upside move for the token. On-chain data shows LINK has experienced increased purchases and withdrawals from centralized exchanges in recent days, suggesting an accumulation phase. For instance, one whale wallet withdrew 510,000 LINK, worth about $11.13 million, from Binance over the past two days, later depositing the tokens into the lending protocol Compound. Two other large addresses made significant acquisitions: one spent $1.34 million to buy 59,560 LINK, while another purchased 44,846 LINK for $1 million, according to the latest data from Arkham Intel , retrieved by Finbold on August 11. Such activity is often seen as a bullish signal. In this case, large-scale accumulation reduces the available supply on exchanges, potentially creating upward pressure on prices. This accumulation comes amid signs of an emerging altcoin season, as Bitcoin’s dominance slips and more altcoi...