54 new wallets are hoarding Chainlink ($LINK), holding positions worth NT$1 billion
Bitcoin has been weak recently, and the altcoin market has not performed well, but wallets with large amounts of funds are looking for opportunities to enter the market?
On-chain analyst Lookonchain published an article on July 2 stating that in the past seven days, 54 new wallets had transferred a total of 2.08 million Chainlink ($LINK) from Binance, worth US$30.28 million, equivalent to approximately NT$1 billion.
Image source: X/Lookonchain
Lookonchain sorted out 54 wallets that withdrew $LINK from Binance (only part of the picture is shown)
Judging from the data compiled by Lookonchain, these wallets that withdraw $LINK all hold huge sums of money, and the value of the $LINK purchased falls between approximately US$123,000 and US$2.02 million. Although it is not known who is behind these wallets, Lookonchain speculates that it may be a whale or an institution.
The CoinShares weekly report compiled regularly by "Crypto City" shows that digital asset investment products (ETP/ETF, etc.) launched by institutions also include $LINK, which means that professional investors or institutional investors may indeed purchase $LINK through this channel. However, last week The estimated net inflow of $LINK is only $600,000.
Losing blood for three weeks! Digital assets saw a small outflow of 30 million magnesium, but investors are still hunting for "these two currencies"?
Chainlink partners with institutions to provide tokenized net asset value data
As institutions continue to lay out the real world assets (RWA) track and launch many tokenized assets, Chainlink, the leader in decentralized oracles, has also found major cooperation opportunities.
Chainlink announced yesterday (3rd) that it has cooperated with asset management giant Fidelity and digital asset bank Sygnum to put the tokenized net asset value (NAV) held by customers on the chain to increase the transparency and ease of checking of asset data. .
Through this partnership, Fidelity’s $6.9 billion institutional investor liquidity fund data will be listed on the ZKsync blockchain, including $50 million in tokenized financial reserves held by Sygnum and ZKsync developer Matter Labs. These reserves are held in Fidelity's money market funds and issued on the ZKsync blockchain, which also participates in the Chainlink SCALE program.
Analyst: $LINK hits resistance at $14.45
Even though some new wallets are hoarding $LINK, it currently faces key headwinds. Aaryamann Shrivastava, an on-chain analyst at currency circle foreign media "BeInCrypto", pointed out that $LINK has recently approached the resistance of $14.45 and tried to convert it into a support level. However, the current result is a temporary failure, and the currency price has also fallen to around $13.24. One support level to watch lies at $12.93.
However, Shrivastava also pointed out that if $LINK returns and confirms to break through $14.45 in the future, it is expected to challenge the next resistance level of $15.63.
Image source: BeInCrypto
ChainLink ($LINK) Daily Price Trend Analysis
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.