Bitcoin (BTC) and altcoins experienced a major crash on Friday, October 10th. This crash triggered one of the largest liquidations the cryptocurrency market has ever experienced, leading some investors to panic sell, while others saw the decline as a buying opportunity.
At this point, while whales continue to accumulate rapidly, they have concentrated on altcoins called Chainlink (LINK) and Falcon Finance (FF) in recent days.
Chainlink (LINK) Accumulation
According to Lookonchain's post, 30 wallets have withdrawn $117 million worth of LINK from Binance in the last 10 days.
Accordingly, thirty new wallet addresses have withdrawn 6,256,893 LINK worth $116.7 million from Binance since Lookonchain’s largest-ever liquidation on October 10.
Falcon Finance (FF) Accumulation
Whales have also focused on the altcoin FF, in addition to LINK. At this point, five wallet addresses have accumulated and staked FF.
According to Lookonchain, over the past 8 days, 5 whale wallets have withdrawn a total of 111 million FF (worth $14.92 million) from exchanges including MEXC, Bitget, KuCoin, Binance, Bybit, and HTX, and staked them all.
Market Interpretation and Current Prices
Withdrawals from exchanges are often interpreted as a sign of long-term holding intentions and a bullish signal.
According to CoinMarketCap data, LINK is trading at $18.85, up 12.3% in the last 24 hours, while the altcoin Falcon Finance (FF) is trading at $0.13, up 6.8%.