A whale, who recently opened a 50x long position on Ethereum (ETH) and was known for intentionally liquidating it, seems to have set his sights on Chainlink (LINK) this time.
According to the data, the whale wallet sold 18.36 million LINK worth $1.34 million in the last two hours, incurring a total loss of $512,000, or 2.7%. On-chain data reveals that the average LINK price for the sale was $13.7.
In addition, the data shows that this whale also closed long positions for LINK on GMX, and on this platform the whale made a profit of $195,000. On the Hyperliquid platform, the cryptocurrency whale, the LINK whale, closed long positions and converted them into Bitcoin short positions with 40x leverage, and at the time of writing this article, it has an unrealized profit of $290,000.
This behavior by the whale wallet came after the tokens from Chainlink’s major token unlock entered the market and the BTC price increased by 4%.
*This is not investment advice.
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