Whales Engulf Chainlink’s Decentralized Oracle Network, Lookonchain Reports

According to Lookonchain, 54 newly created wallets have withdrawn 2.08 million LINK tokens, valued at $30.28 million, from Binance over the past week. Speculation suggests that these wallets may be linked to institutional investors.


Source: Lookonchain/X

As of this writing, the price of LINK stands at $14.43. The cryptocurrency, ranked 17th by market capitalization, has experienced a growth of over 1.5% in the last seven days.

Lookonchain also revealed that the German government transferred 1,500 Bitcoin (BTC) worth $94.7 million on Monday. Of this amount, 400 BTC worth $25.3 million was sent to the crypto exchanges Bitstamp, Coinbase, and Kraken.

According to Lookonchain, the German government still retains 44,692 BTC, valued at $2.82 billion.

Germany has decided to sell the seized BTC, which was acquired during the investigation of Movie2k.to, an illegal streaming site that distributed over 880,000 pirated films between 2008 and May 2013.

The Dresden Public Prosecutor’s Office stated that the operators of the site used the proceeds from their criminal activities to purchase Bitcoin. In connection with the investigation, the police confiscated nearly 50,000 BTC, marking the largest seizure of its kind in Germany.

Bitcoin is currently trading at $62,072. As the top-ranked cryptocurrency by market capitalization, it has experienced a decline of over 1% in the past 24 hours.

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Disclaimer: The opinions expressed in this article by The Daily Hodl do not constitute investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that all transfers and trades are made at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it provide investment advice. Please be aware that The Daily Hodl engages in affiliate marketing.

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