Whale Withdraws $5M in LINK — Monitor Exchange Supply
I noticed a whale withdrew 210,924 LINK from Binance in under two hours, worth about $5.05 million.
I view this as a meaningful outflow that could reduce available sell-side supply on exchanges, though the destination is unknown (cold wallet, OTC, or another exchange).
I’m monitoring exchange balances and on-chain movement for confirmation before changing my position.
Analysis
Recommendation
I’m watching this development. If withdrawals persist and exchange balances decline, consider a partial buy; otherwise wait for clearer on-chain signals before taking action.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.