Crypto Whales Intensify Chainlink and Ethereum Purchases

Significant cryptocurrency whales are demonstrating strong buying activity, particularly for Chainlink (LINK) and Ethereum (ETH). Recent blockchain data reveals notable purchases from prominent entities. One whale known as 0x3c9E made a substantial move by withdrawing 510,000 LINK ($11.1 million) from Binance to deposit it on the Compound platform. Other whales have also shown considerable buying activity, with 0x42A1 spending $1.34 million for 59,560 LINK in the past four hours and 0x848a purchasing 44,846 LINK worth $1 million just five hours prior. Institutional investors are also showing increased interest, as a mysterious institution created two new wallets on the blockchain holding 44,999 ETH ($194 million) within the last hour. This entity has also been actively buying ETH over the past seven days, purchasing a total of 266,165 ETH ($1.15 billion) from established platforms like FalconX, Galaxy Digital and BitGo. The stablecoin market is also experiencing notable activity, with the total stablecoin market capitalization increasing by $2.376 billion over the past week. Meanwhile, USDT and USDC holdings on Ethereum increased by $898 million while Aptos witnessed a decline of $131 million. Spot trading volume on decentralized exchanges (DEXs) decreased by 6.95% last week to reach $95.978 billion. Uniswap saw a notable increase, rising by 10.35% in volume to $28.232 billion on the week, while PancakeSwap and Raydium saw corresponding decreases of 14.35% and 16.27%, respectively. Futures volume on DEXs fell to $110.794 billion, decreasing by 8.54% compared to the previous week. Hyperliquid witnessed a decrease of 11.29%, while edgeX saw an impressive increase of 38.23%. The enigmatic institution has also recently amassed a substantial 221,166 ETH ($946.6 million) through new wallets opened with FalconX, Galaxy Digital and BitGo in recent times. Renowned crypto investor Arthur Hayes is taking advantage of the current market conditions by buying back Ethereum previously sold.