Crypto whales are buying up the correction in digital asset markets, according to blockchain tracking firm Lookonchain.
According to Lookonchain, as Ethereum's price fell, “smart whales” with a solid track record of profitable trading bought up more than 3,600 ETH.
“After the price of ETH fell, [on Friday]this clever whale bought back 3,600 ETH ($8.9 million) at a low price…
This whale is very good at buying ETH at low prices and selling ETH at high prices.
Current profits are approximately $25.8 million!”
At the time of this writing, ETH is trading at $2,470.
Lookonchain also spotted a whale scooping up decentralized oracle provider Chainlink (LINK) as it fell to the $14.81 level.
After LINK price drops [on Friday]Whale spent $8.9 million to purchase 601,949 LINK with three new wallets for $14.81.
After a large whale purchase, LINK's price seemed to stabilize. As of this writing, LINK is trading at $15.53.
Turning to Bitcoin, the on-chain data tracking company announced that crypto whales withdrew nearly $30 million worth of BTC from crypto exchange Binance as the price fell below the $42,000 level.
“Looks like whales are buying BTC!
In the recent market decline, new wallets withdrew 700 BTC ($29.36 million) from Binance at an average price of $41,948. ”
At the time of this writing, BTC is trading at $41,570.
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