A newly created wallet withdrew 104,503 LINK tokens from Binance approximately 30 minutes ago, worth $1.32 million, according to Arkham's monitoring data.
This development comes amid suspicions of LINK accumulation activity from large wallets, with another address withdrawing a significant amount of LINK from Binance in the last two days.
- The new wallet withdrew 104,503 LINK tokens from Binance, worth $1.32 million.
- Arkham noted that the withdrawal occurred approximately 30 minutes before the time of reporting.
- Wallet 0xf44 withdrew approximately 630,000 LINK tokens in 2 days, nearly $8 million USD.
LINK withdrawal from Binance: new wallet and 0xf44 wallet
Arkham reported that a newly created wallet had just withdrawn 104,503 LINK tokens from Binance, worth $1.32 million, approximately 30 minutes before the transaction was recorded.
Token withdrawals from exchanges are often monitored as a signal of supply shifting to self-managed wallets, especially when the withdrawal volume is large. In this case, the quantity of 104,503 LINK and the valuation of $1.32 million indicate a transaction of considerable size.
Following the same trend, another large wallet, identified as 0xf44, has withdrawn approximately 630,000 LINK from Binance in the past two days, worth nearly $8 million. This chain of consecutive withdrawals on this scale raises suspicions that whales are accumulating LINK in the short term.
Details of monitoring data and transaction size.
Tracking data recorded two large withdrawals: 104,503 LINK from a newly created wallet and approximately 630,000 LINK from address 0xf44.
In terms of value, the new wallet's transactions are estimated at $1.32 million, while 0xf44's withdrawals are valued at nearly $8 million. In terms of volume, 0xf44 withdrew approximately six times more than the new wallet (630,000 versus 104,503 LINK), suggesting that the accumulation focus, if any, is leaning towards larger wallets.
