This afternoon, a guy in the group chat asked me if the LINK team was about to run off with everyone’s money, because someone had dumped over a hundred thousand tokens.
I told him to take a sip of water first.
Turns out he’d seen an on-chain update: a whale wallet sold 138,000 LINK for $1.9 million, then went straight to leveraged trading on CRCL over on Hyperliquid. CRCL is Circle—the company behind USDC—and it’s about to go public in the US. Think about that move: swapping crypto for something tied to a stablecoin, then using leverage to bet on its IPO.
My first reaction wasn’t panic. I was impressed. This guy’s got a clearer head than I do.
LINK is sitting just above $13 right now, down 5% this week, with trading volume at only 60% of normal. Nobody’s rushing to buy or dumping it—it’s just lying low. Some people got tired of seeing no utility and moved on to other things. Fair enough.
I’m still holding my LINK, and I’m not planning to touch it anytime soon. If you’re expecting an old coin like this to suddenly moon one day, you haven’t been worn down by it enough yet. It’s the kind of holding you can leave alone without getting annoyed—or forget about without feeling bad.
As for whether that whale made or lost money trading with leverage, I couldn’t care less. I just hope they don’t come back and dump on the market. $LINK
I told him to take a sip of water first.
Turns out he’d seen an on-chain update: a whale wallet sold 138,000 LINK for $1.9 million, then went straight to leveraged trading on CRCL over on Hyperliquid. CRCL is Circle—the company behind USDC—and it’s about to go public in the US. Think about that move: swapping crypto for something tied to a stablecoin, then using leverage to bet on its IPO.
My first reaction wasn’t panic. I was impressed. This guy’s got a clearer head than I do.
LINK is sitting just above $13 right now, down 5% this week, with trading volume at only 60% of normal. Nobody’s rushing to buy or dumping it—it’s just lying low. Some people got tired of seeing no utility and moved on to other things. Fair enough.
I’m still holding my LINK, and I’m not planning to touch it anytime soon. If you’re expecting an old coin like this to suddenly moon one day, you haven’t been worn down by it enough yet. It’s the kind of holding you can leave alone without getting annoyed—or forget about without feeling bad.
As for whether that whale made or lost money trading with leverage, I couldn’t care less. I just hope they don’t come back and dump on the market. $LINK
