Chainlink Whale’s Swift Transfer: $79.7m LINK Moved in Just 11 Minutes

On March 3, the crypto market intelligence platform Santiment found three large whale transactions on the Chainlink (LINK) platform that added up to $79.7m.

$79.7 million worth of transactions

During the last 11 minutes of trading on March 3, a “whale address” moved 11.6 million LINK worth $79.7 million in three transactions less than 11 minutes apart.

The whale moved 3.9m LINK in the first trade. A few minutes later, the wallet moved another 4 million LINK. Then, a minute later, it moved another 3.5 million LINK.

The sentiment says the whale’s actions caused the most significant jump in on-chain transactions for Chainlink since December 9, 2022. The on-chain data provider also said that the total value of the three transactions put them in the top five crypto transactions of the year so far.

LINK drops 7%

When the transactions were going on, Chainlink’s price had dropped another 7% in the last 24 hours, going as low as $6.7.

LINK fell below its $7 support level and hit its lowest price since Valentine’s Day due to the downturn.

The crypto market is down

Also, yesterday’s prices affected the rest of the cryptocurrency market. Ethereum (ETH) dropped 5% to $1,500, and Bitcoin (BTC) dropped 5% to fall below $22,500. One of the best altcoins, Ripple (XRP), dropped by 2% to $0.37. On the other hand, Cardano (ADA) and Dogecoin (DOGE) fell 3% and 5%, respectively, with Dogecoin going down to $0.07. Polkadot (DOT) is down 5% and is now worth $6.0.