Bittime - The cryptocurrency world has been experiencing a price decline recently. However, in the midst of these unfavorable conditions, a large investor (whale) Chainlink (LINK) actually took a bold step that attracted the attention of many people. The investor identified with the blockchain address 0x7d2 has made a large purchase, namely 150,000 LINK tokens at once on Binance.
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Brave Purchase
At LINK's current price of $18.06 per token, this purchase is worth approximately $2.71 million. This is a bold step against the bearish sentiment (falling prices) that is dominating the market.
Data From Spotonchain Reveals Transaction Hashes
(0xd146206d236cd2c342f7543f1688b41257189fa7b73b118cf3e65d1c12dd3ee3) and highlights the investor's confidence in accumulating LINK when the market is experiencing a correction.
This is not the first time this investor has shown his strong belief in LINK. His trading activity since January 28, 2024 indicates long-term interest in LINK.
Still a Positive Net Investment
Although the market has been volatile recently, the investor's previous trades resulted in a total profit of approximately $1.63 million. This means a healthy return on investment of 5.72%.
However, it should be noted that these investors sometimes show a tendency to FOMO (Fear Of Missing Out) or fear of missing out on the trend, which can be seen from LINK withdrawals when prices are high and deposits when prices are low several times.
Even after this massive purchase, the investor's address (0x7d29eaca95d148629843d87c8d24fbaa6ad485a1) still has significant LINK holdings, namely 550,000 tokens worth approximately $9.93 million at current market prices.
Also Read How To Buy Crypto:
An Experienced Investor's View of the Whale's Step
As an experienced cryptocurrency investor myself, I find this strategy of large investors (whales) during market corrections quite interesting.
At a time when the overall market is undergoing a correction, with LINK itself down 12% this week, these investors appear to be taking advantage of discounted prices to strengthen their LINK holdings.
Also read: Getting to know what a crypto whale is and its role
Forms of Trust in Chainlink?
This large accumulation of LINK by high-profile investors can be interpreted as a strong form of confidence in the long-term potential of Chainlink and its LINK token.
These investors may believe that the current market price decline represents an attractive opportunity to acquire LINK at a lower price.
However, it is important to remember that the actions of individual investors, while significant, do not always determine the future direction of a cryptocurrency. Always do your own research and due diligence before making any investment decisions.
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How to Buy Chainlink (LINK) on Bittime
You can buy and sell Chainlink (LINK) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Chainlink (LINK) is available on Bittime with the market pair LINK/IDR . To be able to buy IDR LINK on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Chainlink (LINK) on Bittime .
Monitor price chart movements of Chainlink (LINK), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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