According to Lookonchain data on December 20, whales are actively accumulating Chainlink (LINK) and Polygon (MATIC) and moving them from Binance, one of the world’s largest cryptocurrency exchanges by trading volume. Citing on-chain transfers, Lookonchain notes that LINK is specifically seeing significant accumulation from a fresh wallet labeled “0x8eAD,” which has withdrawn 247,860 LINK worth approximately $3.5 million from Binance in the past two days. Meanwhile, two new wallets, “0xa813” and “0x38b3”, have been actively accumulating MATIC, withdrawing 5 million MATIC worth around $3.13 million from Binance earlier today. Whales Accumulating, Will MATIC And LINK Rally? The fact that whales, individuals, or entities controlling large amounts of a particular token or coin are circling MATIC and LINK is net bullish and might support prices in the coming sessions. Notably, the transfer is considered bullish when whales move coins from exchanges to non-custodial wallets like hardware wallets or even hot wallets to engage in decentralized finance (DeFi), degen trading, or NFT trading. Related Reading: Dogecoin Price In Trouble: Whale Transfers 85 Million DOGE To Robinhood This shift is because, unlike in centrali ..
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