Recently, a cryptocurrency whale identified by the short wallet address 0x56b deposited 500,000 LINK, equivalent to $5.83 million, to Coinbase. The deposit was made at a price of $11.66 per LINK.
The whale in question has a history of profitable transactions with LINK. Whale accumulated 1.02 million LINK from Coinbase and Bitrue between October 6, 2022 and July 24, 2023. The average purchase price during this period was $7.64 and the estimated total cost was $7.84 million.
These sales were made at an average price of $11.41 and generated approximately $6 million in revenue. This means an estimated profit of $1.98 million.
The whale currently still holds 500,000 LINK worth $5.87 million. The estimated unrealized profit from these LINKS is around $1.99 million. This means the whale made an estimated total profit of $3.98 million from LINK transactions, or a 50.7% gain.
LINK is trading at $12.20 at the time of writing this article and has increased by 58% in the last month.
*This is not investment advice.