According to on-chain data, two giant cryptocurrency whales have sold a large amount of Chainlink (LINK) altcoin.
Two Giant Whales Transacted Large Amounts of Altcoins
The first of the whales sent 1.2 million LINK ($ 8.88 million) purchased 4 months ago to the crypto exchange Binance through 7 addresses.
The other giant whale sent 1 million LINK ($7.4 million) purchased through Kraken in 2021 to the Gate.io exchange through 10 addresses.
With the effect of whale transactions, a volatile course was observed in the LINK altcoin price during the day.
Chainlink (LINK) is an Ethereum token that powers the decentralized oracle network of the same name. This network allows smart contracts on Ethereum to be securely connected to external data sources, APIs and payment systems, providing the critical off-chain information complex smart contracts need to become the dominant form of digital agreements.
At the time of this writing, Chainlink has a market cap of $3.78 billion and a price per token of $7.32. Its circulating supply is 517.1 million LINK coins and its maximum supply is 1 billion LINK coins.
Oracle network is a node system that aims to connect data and information from outside of a blockchain to smart contracts on the chain. Oracles enhance smart contract capabilities by providing access to real-world data and off-chain computing while maintaining the security of blockchain technology.
*Not investment advice.