Crypto whales are buying the correction in digital asset markets, according to blockchain tracking firm Lookonchain.
Lookonchain says that as the price of Ethereum fell, a “smart whale” with a track record of profitable trades bought the dip for more than 3,600 ETH.
“After the price of Ethereum dropped (on Friday), this smart whale bought 3,600 ETH ($8.9 million) at a lower price…
This whale is very good at buying ETH at low prices and selling ETH at high prices.
Profit is ~$25.8 million currently!
At the time of writing, ETH is trading at $2,470.
Lookonchain also spotted a whale taking over decentralized oracle provider Chainlink (LINK) as it fell to the $14.81 level.
After LINK’s price dropped (on Friday), a whale spent $8.9 million to buy 601,949 LINK at $14.81 with three new wallets.
LINK price seems to have stabilized after major whale buying. At the time of writing, LINK is trading at $15.53.
Looking at Bitcoin, the on-chain data tracking company says a crypto whale withdrew nearly $30 million worth of Bitcoin from cryptocurrency exchange Binance as the price fell below the $42,000 level.
“Looks like a whale is buying Bitcoin!
In the recent market dip, a new wallet pulled 700 BTC ($29.36 million) from Binance at an average price of $41,948.
At the time of writing, Bitcoin is trading at $41,570.
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