Whale movements continue in the cryptocurrency world. Now, important movements have occurred for an altcoin. Moreover, it is not a small number in terms of numbers. There are millions of sales. Let’s look at the details together.
Whale sold $3.58 million worth of altcoin LINK
In a recent cryptocurrency transaction, a significant crypto whale identified as “0x32b” attracted attention. The development was reported by Spot on Chain, which monitors on-chain data. Accordingly, it made a strategic move by selling a significant amount of 320,291 Chainlink (LINK) tokens. This well-timed sale resulted in a total of 3.58 million USDC for the whale. It also marked a profitable trade in a volatile altcoin market.
The average selling price of LINK at the time of this transaction was approximately $11,182 per token. Accordingly, it revealed the crypto whale’s expertise in taking advantage of market fluctuations. What is even more intriguing is that this whale initially acquired these altcoin LINK tokens through a previous well-timed purchase.
Receiving time draws attention
Altcoin LINK was first purchased from Binance, the popular cryptocurrency exchange managed by Wintermute, at an average cost of $10.74. This initial investment amounted to $4.52 million. Also, remarkably, it happened just seven days ago, during a period when the market was volatile. Taking these details into consideration, the whale’s estimated profit from this latest transaction is approximately $135,000. This represents a modest 3% gain compared to the initial investment made just a week ago. On the other hand, it highlights the profitability potential in Crypto trading.
This transaction stands as a testament to the dynamics of cryptocurrency trading. Accordingly, it shows how experienced traders and altcoin whales can strategically manipulate market fluctuations to generate significant profits in a relatively short time frame. This event highlights the earning opportunities and how quickly fortunes can change in the crypto market.
Timing is also important
A profit of 135 thousand dollars from a cryptocurrency in a short time makes the event noteworthy. Because the whale’s strategic move in such a short time shows how important timing is.
As Kriptokoin.com, this event underlines the importance of strategic decision-making in altcoin investments. Because even a small percentage gain can turn into a significant financial success. We also see this success in the altcoin LINK whale.