Unidentified Whale Deposits 356,000 LINK to Binance – Coincu

Anonymous crypto whale deposits 356,000 LINK tokens to Binance on June 8, 2025.

This whale event comes after three years of accumulation, potentially realizing a $2.43 million profit with a 97.3% ROI. Market observers anticipate short-term price pressure on LINK due to increased token supply.

Massive LINK Deposit Sparks Market Speculation

An unidentified crypto whale deposited 356,000 LINK tokens on Binance within 24 hours on June 8, 2025. The whale accumulated these tokens three years ago from Kraken, at an average cost of $7.03, according to data from The Data Nerd. The move, considering current prices around $14.53, translates to a potential profit of $2.43 million.

Market observers note that this large deposit could trigger short-term selling pressure on LINK’s price, yet no official statements from Chainlink or Binance leaders have been reported. The event remains a significant market interest indicator due to the large amount and profit involved, overshadowing routine transactions on the platform.

Despite the potential impact, community reaction has been largely muted, viewed predominantly as a standard profit-taking action rather than any indication of long-term shifts in Chainlink’s fundamentals. The absence of formal responses from key industry figures underscores this perception among market participants.

Chainlink’s $2.43M Whale Profit: Context and Reactions

Did you know? Chainlink has seen similar whale activities, particularly in May 2025, leading to over $1 million in profits from accumulated positions. These instances highlight the recurring impact of whale movements on LINK’s price volatility.

Chainlink (LINK) is currently priced at $13.59 with a market cap of about $8.93 billion and holds a market dominance of 0.27%, based on data from CoinMarketCap. Its 24-hour trading volume stands at $193.22 million, noting a 39.91% decrease. LINK’s circulation is at 657,099,970, without a capped maximum supply. Recent price data indicates a decline of 2.99% in the past 24 hours.

The Coincu research team suggests that, while large deposits like this may introduce short-term volatility, they have consistently aligned with transient market adjustments rather than significant downturns. The observed price pressures typically balance as broader market sentiment stabilizes, reaffirming LINK’s resilience and continued investor confidence.