A whale is accumulating $34.1 million worth of Chainlink (LINK) on Binance.
Chainlink has introduced its new Smart Value Recapture (SVR) system for DeFi solutions, and Aave is awaiting community approval for SVR integration. According to a report by blockchain monitoring firm Lookonchain, a whale has been accumulating a large amount of Chainlink on Binance in the last five days. The whale created 30 new wallets and transferred a total of 1.37 million LINK, equivalent to approximately $34.1 million. This major movement, which has attracted attention in the Chainlink ecosystem, has sparked interest among investors.
During these important transactions, Chainlink announced a new DeFi solution, Smart Value Recapture (SVR). SVR aims to recover Maximal Extractable Value (MEV) losses incurred during liquidation processes. Chainlink stated in a statement that SVR can recover approximately $40 of every $100 loss. The company emphasized that this estimate is based on real-world data and that they take a more realistic approach compared to alternative solutions. “While some alternative solutions claim higher recovery rates, this data has not yet been proven in the real world. We believe that SVR offers a reliable solution with a recovery rate of 40%,” Chainlink said.
Aave Awaits Feedback on SVR Integration$AAVE
Following Chainlink’s announcement of the SVR solution, lending platform Aave proposed testing the solution with a pilot program on Aave v3. With this solution, Aave aims to recover MEV losses incurred in liquidations and return these losses to its ecosystem. The Aave community has opened this proposal for discussion and is waiting for feedback.
Chainlink’in SVR$LINK
The solution is expected to have a significant impact on the DeFi industry. Recovering MEV losses could help provide more transparency in liquidation processes. Aave’s adoption of this solution could increase Chainlink’s influence in the DeFi space.
In the last month, the LINK token price has increased by 34% to $24.04. Investors and platforms are closely following this increase and Chainlink's new steps. Large token transfers and new technological solutions can be the harbingers of significant changes in the cryptocurrency market.
These developments by Chainlink and Aave could have long-term effects on the cryptocurrency ecosystem. It is of great importance for investors to follow such innovations in order to make strategic decisions.