Over $256,000,000 in Chainlink (LINK) Abruptly Sent to Crypto Exchanges in Just 24 Hours, Says Analyst

Over 6,000,000 in Chainlink (LINK) Abruptly Sent to Crypto Exchanges in Just 24 Hours, Says Analyst

Over a quarter billion dollars worth of Chainlink (LINK), the leading blockchain oracle service, has been spotted headed to crypto exchanges.

Analyst Ali Martinez says that within a 24-hour period on June 22nd, traders deposited millions of LINK to digital asset exchanges where they could be sold on the open market.

“[In 24 hours], 18.77 million Chainlink (LINK), valued at approximately $256.20 million, were sent to cryptocurrency exchanges!”

Source: Ali Martinez/X

LINK has dropped since the tokens were sent to exchanges, currently trading at $13.03.

Looking at Ethereum (ETH), Martinez reports that the top smart contract platform just experienced its largest jump in daily active addresses since March.

“Ethereum just saw its largest spike in active ETH addresses in three months, reaching a total of 617,170 active ETH addresses.”

Source: Ali Martinez/X

The analyst also says that based on social media metrics, “the crowd” is now growing more confident in Ethereum.

At time of writing, Ethereum is trading for $3,375.

As for Bitcoin, Martinez says that the crypto king is showing signs of diminished interest from investors.

“Bitcoin is experiencing a downturn in exchange-related on-chain activity, indicating decreased investor interest in BTC and reduced network usage.”

Source: Ali Martinez/X

At time of writing, Bitcoin is trading at $62,265.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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