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54 Wallets Possibly Belonging to Institutions Accumulating Chainlink (LINK) From Binance: Lookonchain

July 03, 2024

Whales have been gobbling up the decentralized oracle network Chainlink (LINK), according to the crypto tracker Lookonchain.

Lookonchain notes that 54 fresh wallets withdrew 2.08 million LINK worth $30.28 million from Binance in the past seven days. The crypto tracker says the addresses could belong to institutions.

LINK is trading at $14.43 at time of writing. The 17th-ranked crypto asset by market cap is up more than 1.5% in the past seven days.

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

The German government still holds 44,692 BTC worth $2.82 billion, according to the crypto tracker.

Germany is selling the BTC that its authorities seized while probing Movie2k.to, a now-defunct illegal streaming site that was accused of distributing more than 880,000 pirated films between 2008 and May 2013.

The Dresden Public Prosecutor’s Office said that the two operators of the site purchased Bitcoin using the proceeds of their illicit activities.

Police confiscated nearly 50,000 BTC in connection with the investigation, the largest seizure of its kind in Germany to date.

Bitcoin is trading at $62,072 at time of writing. The top-ranked crypto asset by market cap is down more than 1% in the past 24 hours.

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