Crypto Whales Unload Uniswap and Chainlink Tokens

Despite
the
significant
sales
by
two
high-profile
cryptocurrency
whales,
the
Uniswap
(UNI)
and
Chainlink
(LINK)
tokens
appear
to
be
weathering
the
storm.
A
so-called
‘whale’
is
a
trader
with
a
significant
amount
of
a
certain
cryptocurrency,
capable
of
making
market-moving
transactions.

Data
from
Lookinchian
showed
that
one
UNI
whale
sold
135,150
tokens,
while
a
LINK
whale
sold
363,814
tokens,
valued
at
$1.71
million
and
$6.88
million
respectively.
The
massive
liquidations,
and
the
significant
profits
made
from
these
transactions,
have
sparked
speculation
among
investors
and
analysts
about
the
future
of
UNI
and
LINK.

Large-scale
transactions
like
these
can
often
lead
to
price
depreciation,
especially
if
sustained
over
a
period
of
time.
However,
despite
the
sizeable
sales,
the
prices
of
both
UNI
and
LINK
have
remained
relatively
stable,
with
UNI
trading
at
$13.01
and
LINK
at
$18.62
as
of
this
writing.

The
recent
movements
in
the
market
are
seen
by
some
as
an
indication
of
changing
trends.
Large
investors,
or
whales,
are
known
for
their
ability
to
impact
the
market
significantly.
Many
traders
keep
a
close
eye
on
the
activity
of
these
whales,
as
it
can
provide
valuable
insight
into
potential
market
shifts.

In
the
past
week,
UNI’s
price
rose
by
18.20%,
while
LINK’s
price
increased
by
6.70%.
These
figures
outperform
the
global
crypto
market,
which
rose
by
2.90%
over
the
same
period.
The
recent
bullish
trend
in
the
market,
driven
in
part
by
the
re-election
of
US
President
Donald
Trump,
has
renewed
investor
interest
in
cryptocurrencies.

Despite
the
sizeable
liquidations
by
the
aforementioned
whales,
the
overall
market
activity
for
both
UNI
and
LINK
has
been
robust.
UNI’s
trading
volume
dropped
by
4.10%,
but
still
stands
at
a
hefty
$706,812,235.
Meanwhile,
LINK’s
trading
volume
increased
by
8.50%,
reaching
$1,025,513,316
in
the
last
24
hours.

It
remains
to
be
seen
whether
these
large-scale
liquidations
will
have
a
significant
long-term
impact
on
the
prices
of
UNI
and
LINK.
However,
for
now,
the
markets
appear
to
be
demonstrating
resilience.
As
always,
potential
investors
should
keep
a
close
eye
on
market
trends
and
exercise
due
diligence
before
making
any
investment
decisions.