- $2.26 million in LINK has been deposited by a whale on Binance.
- LINK has experienced a decrease of 15.34% in the past 24 hours.
Reports highlight notable transfers of LINK, suggesting the involvement of whales and institutions in a potential dumping trend. A substantial amount of 451,135 LINK, valued at $2.26 million, deposited by a whale into Binance. And also the latest reports reveal that a significant majority of Chainlink holders, approximately 88%, currently find themselves in a loss position. This statistic mirrors the levels observed in early 2023, indicating a potential approaching price bottom.
According to the On-chain analytics firm IntoTheBlock, the Global In/Out of the Money classification categorizes addresses based on their current price positions, determining whether they are in the money, at the money, or out of the money.
MATIC Faces Heavy Selling Activity
Chainlink (LINK) is presently priced at $5.07, with a 24-hour trading volume of $359,800,415. LINK has experienced a decrease of 15.34% in the past 24 hours. The bearish market trend of Chainlink (LINK) remains unchanged. Regarding its trading movements, the RSI for LINK records at 41.35. Signifying that it is presently in a neutral state without being in an overbought or oversold condition.
Additionally, during the past 15 hours, a notable whale with affiliations to Robinhood, Jump Trading, and Cumberland has engaged in sizable transfers of MATIC tokens, spanning multiple exchanges. The total deposited amounts to a significant 9.4 million MATIC tokens, with Binance receiving 9 million tokens and Coinbase receiving 5 million tokens. These transactions point towards considerable whale and institutional involvement, suggesting a potential coordinated initiative to liquidate MATIC holdings.
Following Robinhood’s announcement of delisting altcoins due to the U.S. Securities and Exchange Commission naming them as securities in its lawsuit against Binance, sell-offs have ensued. Robinhood, the commission-free trading app, declared on June 9 that its users will no longer be able to trade ADA, SOL, and MATIC effective from June 27.
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