"Chainlink's Big Fish on the Move: Why $150 Million LINK Was Transferred Before the Last Rise 🚀"

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The newest data from the chain shows that large Chainlink holders (or, in other words, "big fish") had about $150 million worth of activity in LINK, just before the cryptocurrency's latest surge. This breakthrough is attracting the attention of both analysts and investors, and here's why.

Chainlink Big Fishes on the Move

As noted by the analyst in a post on X, the big fish and institutional investors have shown increased activity recently. A relevant indicator is “large transaction volume” from market intelligence platform IntoTheBlock, which tracks the aggregate volume of Chainlink transactions exceeding $100,000.

Typically, only large holders and institutional investors are able to move such large sums in a single transaction. Their wallet balances are significant and they exert influence on the network.

What Signals the Volume of Large Transactions?

When the value of this indicator is high, it means that large investors are actively moving large amounts of money. This trend indicates their participation in trading activity.

However, this indicator by itself cannot accurately distinguish what type of activity it is. Both purchases and sales appear the same on the blockchain and are counted towards this volume.

On the other hand, when the indicator has low values, it indicates that large holders and institutional players are not interested in the cryptocurrency as they are making fewer movements. Here is a graph showing the trend in Chainlink's large transaction volume in recent weeks.

As can be seen in the chart, Chainlink's large transaction volume recently registered a spike, indicating that big fish were moving a lot of tokens through the network.

Peak of the Jump: Large Holders Transferred approximately 20.38 million LINK within 24 hours. At current exchange rates, this is more than $150 million.

It is not yet known why these large holders have suddenly become so active. However, market events may give us a clue. This spike was noticed a few days ago and Chainlink has seen a slight upward trend since then.

Thus, the timing of transactions may indicate two likely possibilities. These large investors may have bought in anticipation of a rally (perhaps due to some inside information) or their purchases are the factor that started the rise in prices.

Either way, it's a positive sign that large holders and institutional investors have recently engaged in potential accumulation activity. This indicator should be watched over the next few days as further activity by these holders could indicate more volatile price movements.

But again, future spikes could come from both buying and selling, so they won't necessarily be the bullish signal for Chainlink that this latest case turned out to be.

Price LINK

At the time of writing, Chainlink is trading around $0.74, up over 3% over the past week.