Crypto Whales Stir Market with Massive Transactions: What You Need to Know

An analyst at Onchain Lens has brought attention to a significant deposit of 659,415 Chainlink (LINK) tokens, worth about $9.42 million, into Coinbase. This large holder could potentially profit $3.53 million if the tokens are sold. Over the past two years, the investor has been steadily building up this position, withdrawing a total of $5.85 million worth of LINK, indicating a long-term accumulation strategy. In a surprising move, a well-known Ethereum whale, an early ICO participant, ended a seven-year silence by transferring 1,700 ETH (approximately $3.18 million) to Binance. This individual had originally bought the ETH at a low price of $0.31 per token, showcasing a significant gain. Another noteworthy transaction involved a whale transferring 8.7 million LAYER tokens (valued at $11.13 million) to Binance. This investor had acquired these tokens in two separate wallets for a total cost of $6.5 million, resulting in a profit of $4.63 million from the transaction. The transfer occurred after a month-long waiting period. Furthermore, the US government moved 97,336 BTC (worth $8.46 million) and 884.33 ETH ($1.77 million) from assets associated with the Sae-Heng Forfeited Funds. These crypto holdings were confiscated during an investigation into a sophisticated crypto scam targeting US investors, known as a “pig butchering” scheme. Initially seized from a Binance account linked to Wanpadet Sae-Heng, the assets were transferred to a government wallet after being directly moved from Binance two years ago. The original article was published on Coindoo under the title "Crypto Whales Stir Market with Massive Transactions: What You Need to Know."