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Whale Wallet's $161K Floating Profit on LINK Accumulation Signals Market Move
A newly identified on-chain wallet has been aggressively building a position in Chainlink (LINK) over the past 24 hours, acquiring over $10.07 million worth of the token. According to blockchain analysis data, the wallet, identified as 0xf44…b1CC4, purchased a substantial 806,326 LINK tokens at an average entry price of $12.49 per token.
Current Market Position and Floating Profit Status
The move demonstrates an interesting floating profit scenario for the whale investor. With LINK currently trading at $12.35, the wallet’s massive accumulation is showing a floating profit of approximately $161,000, even after the token’s slight pullback from the accumulation period.
This positive floating profit indicates that despite recent price movements, the whale’s strategic accumulation has already generated gains. The $161,000 floating profit represents a modest but meaningful return on the $10.07 million investment, suggesting that the whale executed its purchase strategy at favorable price points.
What This Means for the LINK Market
The appearance of significant whale activity in LINK often attracts attention from retail traders who monitor on-chain movements. The fact that this major accumulation was completed in less than a day indicates aggressive conviction in the token’s near-term prospects. Whether the whale continues to hold and realize further gains from its floating profit position could serve as a key indicator for broader market sentiment around Chainlink.
As blockchain analysts like Ai Yi continue to track such whale movements, the relationship between institutional accumulation and token price momentum remains a crucial factor for LINK traders to monitor.