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As the crypto universe wobbles once again under geopolitical shocks and market whims, a silent player charts its course, come rain or shine: Chainlink. In an atmosphere saturated with uncertainties, the oracle protocol seems to have awakened a very particular appetite among the whales, those market creatures who never move without reason.
In brief
The crypto market absorbs over $700M in liquidations in 24 hours, mainly hitting long positions.
Despite the storm, whales are active on Chainlink, with over $760M transferred in a few hours.
Between geopolitical tensions and Fed rate uncertainties, investors flee risk.
The Market Bleeds, but the Whales Swim
The last 24 hours were brutal: between $654 and $701 million liquidated, mostly on long positions, the market once again reminded how ruthless crypto can be.
Traders did not see the blow coming despite Saylor’s enigmatic message. Nearly 173,000 of them were swept away, carried off by an avalanche that brought down the majority of altcoins from their perches, including Chainlink, with a drop of 6 to 7%.
But while most panic, some advance their pieces. The whales, those oversized wallets that often secretly set the pace, have activated spectacularly on Chainlink. We are talking about a surge of 3,373% in transfers exceeding $100,000, reaching the tidy sum of $762.7 million. A figure that, amid a purge, cannot be ignored.
Chainlink: Quiet Accumulation or Underlying Manipulation?
One transfer in particular raised eyebrows: 1.99 million LINK sent to Binance, around $25 million. But this was only the tip of the iceberg. In total, 17.875 million dormant LINK tokens were unlocked and deposited on Binance, representing about $149 million. Where did they come from? From non-circulating wallets. In other words: strategic stock.
It would be naive to see this as mere coincidence. When an asset undergoes such pressure but simultaneously attracts such activity from major holders, it is likely that market intelligence anticipates a reversal or is preparing a large-scale move. Such massive transfers to exchanges can signal either an imminent sale or a maneuver to deceive retail traders. A staged play to better scoop up at lower prices later.
An Explosive Climate, Between Fed and Missiles
The origin of this widespread panic is not solely from the crypto world. A U.S. military intervention on Iranian sites revived the reflex to flee to safe havens. This global “risk-off” sentiment spread like wildfire across markets, including digital asset markets. Result: liquidations are accelerating.
On the macroeconomic side, the Federal Reserve is playing a waiting game. With the key interest rate kept between 4.25% and 4.5%, it sends mixed signals. A rate cut in July remains on the table, but uncertainty prevails, and markets hate that uncertainty. Especially in crypto, where volatility thrives in uncertain environments.
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Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
