According to Lookonchain, crypto whales are taking advantage of the dips in Bitcoin, Ethereum and Chainlink
According to blockchain tracking firm Lookonchain, crypto whales are buying up the correction in digital asset markets.
According to Lookonchain, as the price of Ethereum fell, a “smart whale” with a solid track record of profitable trades bought the dip with over 3,600 ETH.
“After the price of ETH fell [on Friday]this smart whale bought back 3,600 ETH ($8.9 million) at a lower price…
This whale is very good at buying ETH at low prices and selling ETH at high prices.
Profit is currently ~$25.8 million!”
Source: Lookonchain/X
At the time of writing, ETH is trading at $2,470.
Lookonchain also spotted a whale tracking decentralized oracle provider Chainlink (LINK) as it fell to the $14.81 level.
After the price of LINK fell [on Friday]a whale spent $8.9 million to buy 601,949 LINK for $14.81 using three new wallets.
Source: Lookonchain/X
The price of LINK seemed to have stabilized after the large whale purchase. At the time of writing, LINK is trading at $15.53.
Looking at Bitcoin, the on-chain data tracking firm says a crypto whale withdrew nearly $30 million worth of BTC from crypto exchange Binance as the price fell below $42,000.
“It seems a whale is buying BTC!
During the recent market decline, a new wallet withdrew 700 BTC ($29.36 million) from Binance at an average price of $41,948.”
Source: Lookonchain/X
At the time of writing, BTC is trading at $41,570.
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