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

By The Daily Hodl January 22, 2024 In Bitcoin, Chainlink, Ethereum
Source: Lookonchain/X

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!”

Source: Lookonchain/X

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.

Source: Lookonchain/X

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.”

Source: Lookonchain/X

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

Generated Image: Midjourney

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