A clever crypto whale has recently gained substantial attention for a dramatic shift from $ETH to $LINK. As per the data from Lookonchain, the crypto whale has acquired 938,489 $LINK by spending 4,806 $ETH, denoting a crucial shift amid the changing market dynamics. As the on-chain analytics provider mentioned on social media, the move highlights the whale’s strategic accumulation of $LINK as a timely action to leverage the shifting market momentum. Overall, this raises speculations about potential market developments in the near term.
Whale Acquires 938,489 $LINK with 4,806 $ETH to Leverage Potential Market Shift
Based on the on-chain data, the crypto whale has utilized 4,806 $ETH, equaling $21.25, for the purchase of up to 938,489 $LINK via 5 wallets. The respective transfers took place a few hours back, indicating the whale’s strategic $LINK accumulation. Apart from that, the market statistics also disclose a list of preplanned trades dealing with $LINK and $WETH tokens.
Additionally, the whale leverages 1inch and other such platforms to perform smart contract interactions for $ETH’s conversion into $LINK. The key transfers among them took into account a swap of nearly 44.3451 $WETH (equaling $196,082.34) for up to 8,564.6427 $LINK (denoting $194,278.64). Another transaction included 29.4711 $WETH (almost $130,313.36) swapped for 5,692.4421 $LINK (approximately $129,126.22).
Strategic $LINK Accumulation Stir Speculation of Breakout
According to Lookonchain, the previous successful trades executed by the whale indicate the importance of its latest $LINK accumulation. Hence, the early exit of the whale from $ETH underscores deep market foresight. Overall, as $LINK keeps showing sideways movements, such whale activity could signify a breakout while analysts and traders are closely watching the market.
