A mysterious crypto whale quietly accumulates $83 million in Link

LINK, the native token of the decentralized blockchain Chainlink, clearly whets the voracious appetite of a mysterious institutional investor. Since February 5th, this notorious crypto whale has been managing to discreetly purchase tens of millions of dollars’ worth of LINK on the Binance platform. A massive and methodical accumulation that raises questions about the identity and motives of this whale.

Methodical Accumulation of Link Over Several Days 

It all starts on February 5th, 2024. That day, four newly created crypto wallets withdrew a total of 119,583 LINK, which is approximately $2.15 million, from Binance in just one hour. 

The following day, the same happens again. Between February 6th and 7th, no fewer than 47 brand-new wallets emptied their accounts on Binance, this time withdrawing over 2.2 million LINK, for a total value exceeding $42 million. 

On February 7th, the enormous transfer continues through an additional 49 wallets which drain nearly 2.75 million more LINK. That’s almost $50 million.

Thus, over the past five days, no less than 55 new wallets have been created to withdraw staggering amounts of LINK from Binance. And this, for a total value already exceeding $83 million. 

Clearly, behind these freshly generated wallets lies a single and mysterious investor, who seeks to cover his tracks by splitting his purchases. A classic technique to avoid being detected while discreetly accumulating astronomical amounts of a cryptocurrency.

The Identity of This Crypto Whale Is Intriguing 

Who could be behind this operation of rare magnitude, methodically spread over more than a week? Speculations are rampant. 

Some suggest the involvement of a hedge fund or an institutional investor. They would be attracted by Chainlink’s strong potential in the blockchain oracle and cryptocurrency market. 

Others outright suspect the involvement of a central bank or even a state! Presumably looking to discreetly accumulate massive amounts of LINK for future use. 

In short, all efforts are made by this crypto whale to conceal its identity and intentions. LINK seems to have been targeted very specifically. This could indicate a carefully considered strategy rather than a simple speculative gamble. The mystery remains unsolved…

Whether it be an institution, a central bank, or a state, this crypto whale seems determined to bet big on LINK for the long term, even going as far as to use sophisticated techniques to confuse the tracks. The affair is to be followed in the following weeks to potentially unravel the mystery of this intriguing whale.