Crypto Whales Taking Advantage of Bitcoin, Ethereum and Chainlink Dips, According to Lookonchain

Crypto whales are buying up the correction in digital assets markets, according to blockchain tracking firm Lookonchain.

Lookonchain says that as Ethereum dipped in price, a “smart whale” with a solid track record of profitable trades bought up the dip with over 3,600 ETH.

“After the price of ETH dropped [on Friday], this smart whale bought 3,600 ETH ($8.9 million) back at a lower price…

This whale is very good at buying ETH at low prices and selling ETH at highs.

The profit is ~$25.8 million currently!”

At time of writing, ETH is trading at $2,470.

Lookonchain also spotted a whale scooping up decentralized oracle provider Chainlink (LINK) as it dipped to the $14.81 level.

After the price of LINK dropped [on Friday], a whale spent $8.9 million to buy 601,949 LINK at $14.81 with three new wallets.

The price of LINK appeared to have stabilized after the large whale purchase. At time of writing, LINK is trading for $15.53.

Looking at Bitcoin, the on-chain data tracking firm says that a crypto whale withdrew nearly $30 million worth of BTC from crypto exchange Binance as the price fell below the $42,000 level.

“It seems that a whale is buying BTC!

In the recent market drop, a new wallet withdrew 700 BTC ($29.36 million) from Binance at an average price of $41,948.”

At time of writing, BTC is trading for $41,570.

Generated Image: Midjourney