Bitcoin (BTC) and altcoins experienced a correction after the rally in early December and have been moving in a certain range since then.
While some analysts state that the correction is over and these levels are the bottom, investors who see the decline as an opportunity are also buying.
At this point, Lookonchain said that the new wallets created are purchasing altcoins. Accordingly, newly created wallets purchased Chainlink (LINK) and Polygon (MATIC) from Binance in the last two days.
One wallet withdrew 247,860 LINK from Binance, worth $3.5 million, while the other two wallets withdrew 5 million MATIC, worth $3.13 million in total.
“We noticed that new wallets are accumulating LINK and MATIC.
The newly created wallet “0x8eAD” withdrew 247,860 LINK ($3.5 million) from Binance in the last 2 days.
Other newly created wallets “0xa813” and “0x38b3” withdrew a total of 5 million MATIC ($3.13 million) from Binance 6 hours ago.”
LINK and MATIC price decreased by 0.6% and 1.9% respectively in the last 24 hours. At the time of writing, LINK continues to be traded at $14.4 and MATIC at $0.78.
*This is not investment advice.