The post Chainlink Whale Unveils Massive $3.23M LINK Deposit To Kraken appeared on BitcoinEthereumNews.com.

The cryptocurrency market is a dynamic arena, often influenced by the actions of its largest participants. Recently, a notable event caught the eye of on-chain observers: a significant Chainlink whale, a term used for large holders, has made a substantial move, depositing 170,000 LINK tokens, valued at approximately $3.23 million, into the Kraken exchange. This action, following a year-long holding period, sparks immediate questions about its potential implications for the popular decentralized oracle network. What’s Behind This Chainlink Whale’s Strategic Move? The recent deposit of 170,000 LINK tokens to Kraken by a prominent Chainlink whale has generated considerable buzz within the crypto community. According to insights from @ai_9684xtpa on X, citing precise data from Arkham, this address had been accumulating LINK between November 2023 and January 2025. Their average purchase price stood at $14.46. With Chainlink’s current market price hovering around $18.99, this strategic deposit could potentially net the holder a profit of approximately $770,000, assuming a full sale at this price point. What makes this move particularly interesting is the whale’s long-term holding strategy. For over a year, these tokens remained untouched, indicating a patient accumulation phase. However, on-chain activity reveals that this particular whale has been gradually liquidating their LINK holdings over the past nine months, with the recent deposit representing a significant portion of their remaining stash. Currently, the address holds a mere 20,000 LINK, suggesting that about 90% of their initial holdings have already been moved off-chain or sold. The primary motivation behind such a large deposit to an exchange like Kraken is typically to facilitate a sale. Whales often move funds to exchanges when they intend to realize profits, rebalance their portfolios, or prepare for new investment opportunities. This specific action by a Chainlink whale could be a classic case of profit-taking after a successful…

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Filed under: News - @ July 28, 2025 3:24 am