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Crypto

Whale Drops $8.9M in Chainlink Tokens Amid Market Volatility

Guavy AI Editorial Team
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LINK
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An anonymous cryptocurrency whale has transferred $8.9 million in Chainlink's LINK tokens to Galaxy Digital and Cumberland, two prominent market makers and liquidity providers.

The transfer occurred in two separate transactions, each involving roughly 386,235 LINK tokens, according to on-chain data provided by Whale Alert.

This move is often interpreted as a precursor to selling or rebalancing large holdings, but the actual outcome depends on how quickly and gradually the tokens are sold.

Chainlink's LINK token has been trading in a range between $11 and $12 over the past week with a market capitalization of roughly $7 billion.

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