Whale Investors Eyeing Chainlink and Ethereum: Is $20 and $4K Value on the Horizon?
Large-Scale Investors Accumulate Chainlink and Ethereum Tokens, Potentially Driving Prices to New Highs
Key Points
- Whales are significantly buying Chainlink (LINK) and Ethereum (ETH), driving market momentum.
- The price targets for LINK and ETH are $20 and $4,000 respectively.
Whales are showing notable buying activity in Chainlink (LINK) and Ethereum (ETH), contributing to the market’s momentum.
Data from Lookonchain reveals that the wallet address “0xf386” accumulated 62,207 LINK from the OKX crypto exchange early on Thursday, Oct. 23.
Whale Accumulations
The whale currently holds 1.1 million LINK tokens, valued at $19 million based on the current price.
Another wallet, “0xe8aa,” withdrew 66,113 LINK tokens from Kraken late on October 22. Over the past 30 days, this address has purchased 307,684 LINK, worth approximately $5.34 million.
An Ethereum whale transferred 8,491 ETH, worth $32.47 million, from OKX to a new wallet address.
Market Impact
This heightened whale activity has caused bullish movements for both assets.
Sometimes, holders and investors wait for an asset to break a rounded-up price point, known as the psychological block, before making a move.
In this case, the $20 and $4,000 marks have been significant targets for LINK and ETH prices, respectively.
The LINK price saw upward momentum with the latest whale accumulation — rising from $16.9 to $17.6 in under 12 hours.
Chainlink experienced a major correction between Oct. 10 and 11 following the massive $19.35 billion liquidations and market-wide bloodbath, falling from $22.
LINK’s market cap is hovering close to $12 billion. For LINK to reach a $25 price target, it would need to break its psychological $20 barrier.
According to data from Santiment, Chainlink is also a top two project in terms of development activity.
The decentralized oracle network is just behind the popular non-custodial crypto wallet MetaMask.
Ethereum also gained 1% in the past 24 hours and is trading close to $3,900. Whether the leading altcoin can reach new heights or not will be determined by its ability to hold above the $4,000 mark.
It’s important to note that the cryptocurrency market is still in a highly volatile zone due to macro uncertainty, with strong liquidations happening every day.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Solidity Team: Solidity will be split into Classic Solidity and Core Solidity
Bitcoin News Update: "Centralized Exchange Liquidation Threats and Decentralized Exchange Growth Drive Crypto Market to a Turning Point"
- Bitcoin's price near $110k triggers $1.263B long liquidation risk if it drops below $109k, per BlockBeats analysis. - Binance sees $5.56B in whale deposits over 30 days, raising questions about accumulation vs. liquidation exploitation strategies. - Hyperliquid leads DEX surge with $317.6B in October perp trading, challenging CEX dominance through 24/7 leverage and no expiration dates. - Allegations of Binance-Wintermute collusion during October crash highlight CEX governance risks amid $19B retail liqui

Crypto’s Regulatory Challenge: Navigating EU’s MiCA Requirements and Competing with U.S. Innovation
- EU's MiCA framework reshapes crypto markets, with firms securing licenses and adapting to compliance demands. - U.S. lawmakers aim to finalize a crypto bill by year-end, balancing innovation with oversight amid global regulatory shifts. - MegaETH publishes MiCA-compliant whitepaper, allocating 9.5% tokens to team and enforcing KYC/AML safeguards. - Revolut and Blockchain.com expand under MiCA, but compliance costs risk deterring smaller players and stifling DeFi growth. - Global crypto firms face tradeof

Trump's Tariff Measures Face China's Endurance: Trade Dispute Reaches Critical Juncture
- Trump halts Canada trade talks, shifts focus to 155% China tariffs via Truth Social, escalating U.S.-China tensions. - China counters with rare earth export controls and "Dual Circulation" strategy, mitigating U.S. tariff impacts through supply chain diversification. - Global markets react sharply: $329M crypto liquidations, U.S. farmers face losses, and rare earth deals with Australia aim to reduce China dependency. - Upcoming Malaysia talks may stabilize relations, but Trump's hardline stance risks dee

