Crypto market intelligence platform Santiment detected three large whale transactions totaling $79.7 million on the Chainlink (LINK) platform on March 3.
Transactions valued at $79.7 million
One whale address transferred 11.6 million LINKs worth $79.7 million in three transactions 11 minutes apart during the late trading hours of March 3.
In the first transaction, the whale moved 3.9 m LINK. A few moments later, the wallet moved a second batch of 4m LINK, followed by another 3.5m LINK a minute later.
According to Santiment, the whale’s activities resulted in Chainlink’s largest on-chain transaction increase since Dec. 9, 2022. The on-chain data provider also stated that the total value of the three transactions placed them in the top five transactions. crypto of the year until now.
LINK falls 7%
When the transactions were taking place, Chainlink had started a new decline in the last 24 hours, and its price fell 7% to reach $6.7.
The downturn meant that LINK fell below its support level of $7 and reached its lowest price since Valentine’s Day.
However, at the time of writing, it was up 0.78% according to data from CoinMarketCap.
LINK price movement | Fountain: CoinMarketCap
The current live LINK price is $6.94 with a 24-hour trading volume of $224.4 million. The token has a live market capitalization of $3,587,678,184, ranking 19th on the market capitalization leaderboard. It has a peak supply of 1 billion LINKs and a circulating supply of more than 517 million LINKs.
The cryptocurrency market is down
Meanwhile, the broader crypto market was also affected by yesterday’s values, as Ethereum (ETH) also fell 5% to $1,500, and Bitcoin (BTC) fell 5% to below $22,500. Ripple (XRP ), a major altcoin, fell 2% to $0.37. By comparison, Cardano (ADA) and Dogecoin (DOGE) are down 3% and 5%, respectively, with the latter dipping to $0.07. Polkadot (DOT) was also down 5%, falling to $6.0.
