Monday, November 23, 2020
No menu items!
  • News
  • Cryptocurrency
  • Contact Us
More

    Crypto Whale Moved 1,000,000 LINK Worth $3,340,757 USD Binance Exchange

    Must Read

    Ethereum 2.0 Staking Deposits Surpass 65% of Required ETH As Price Hits $600

    At the time of publication, the Ethereum 2.0 staking deposit contract has surpassed 65% of the required amount of...

    Ripple Has Officially Added Bank of America (BoA) to the List of Top RippleNet Members on Its Website

    Ripple, the San Francisco based blockchain firm, has now officially included Bank of America (BoA) on the list of...

    Crypto Strategist Scott Melker displays His Bullishness on ADA, ETH, LTC, XRP and Three Others

    A cryptocurrency analyst, Scott Melker, popularly known in the crypto industry as Wolf Of All Streets, has revealed he’s...
    Avatar
    Solomon Odunayo
    Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.




    According to Whale Alert, the live tracker of large cryptocurrency transactions from and to exchanges, a crypto whale has recently moved 1,000,000 Chainlink (LINK) from an unknown wallet to Binance exchange.

    The report of the huge transfer was made available on the official website of Whale Alert and shared with its teeming followers on Twitter.

    This huge movement has attracted a lot of reactions from the crypto enthusiasts on the Microblogging platform. Virtually all the responders expect the transfer to affect the price growth of the digital token LINK since the transaction could be termed as a sell-off to Binance.

    According to Whale Alert, the transaction was effected on 11th April 2020, at 07:54:55 UTC, from 0xd0813e6cf6f8d43446f0b99e93c322a6523973f7 to Binance exchange.

    “1,000,000 LINK (3,340,757 USD) transferred from unknown wallet to Binance,” Whale Alert shared

    Significance of a Huge Transfer from and to a Cryptocurrency Exchange

    In the cryptocurrency ecosystem, it’s generally believed that any huge transaction from an unknown wallet to a crypto exchange implies sell-off, and vise-versa, which is expected to either positively or negatively affect the price of the digital currency in the market.

    Cryptocurrency investors and traders that hold a larger percentage of a particular digital asset are referred to as Crypto Whales, and their impacts on the prices in the market cannot be thrown under foot.

    Anytime huge movement is effected in the crypto market, people tend to check the price status of their choice digital currencies, believing that there could have been high volatility of prices.

    Chainlink (LINK) Records Gains despite the Huge Transfer

    Chainlink (LINK), the 11th largest cryptocurrency by market capitalization is still one of the best performers among the top digital currencies, despite the huge transaction.

    At the time of filing this report, LINK is trading at $3.24, with a 6.24% price upsurge in the last 24 hours. However, a closer look to Chainlink (LINK) price trend at the moment, indicates that the huge transfer would slightly impact the course of the digital currency in the market.




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    Ethereum 2.0 Staking Deposits Surpass 65% of Required ETH As Price Hits $600

    At the time of publication, the Ethereum 2.0 staking deposit contract has surpassed 65% of the required amount of...

    Ripple Has Officially Added Bank of America (BoA) to the List of Top RippleNet Members on Its Website

    Ripple, the San Francisco based blockchain firm, has now officially included Bank of America (BoA) on the list of top RippleNet customers on its...

    Crypto Strategist Scott Melker displays His Bullishness on ADA, ETH, LTC, XRP and Three Others

    A cryptocurrency analyst, Scott Melker, popularly known in the crypto industry as Wolf Of All Streets, has revealed he’s bullish on seven altcoins, including...

    Analyst Says Ethereum (ETH) Could Target $850 Once It Surmounts This Key Resistance

    Virtually all the cryptocurrencies in the market have been enjoying the current price rally that was started by Bitcoin (BTC), the largest cryptocurrency by...

    Ripple Moves to Bring XRP Ledger to the World of Central Bank Digital Currencies (CBDCs)

    Considering the latest job listing, Ripple, the San Francisco based cross-border payment firm, is moving to bring XRP Ledger to the world of Central...

    More Articles Like This