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Over $256,000,000 in Chainlink (LINK) Abruptly Sent to Crypto Exchanges in Just 24 Hours, Says Analyst

Over $256.20 million worth of Chainlink (LINK), the leading blockchain oracle service, has been abruptly sent to cryptocurrency exchanges within just 24 hours, according to analyst Ali Martinez. This significant influx of LINK tokens to exchanges suggests that traders are looking to sell them on the open market. As a result, the price of LINK has dropped and is currently trading at $13.03.

In addition, Martinez highlights that Ethereum (ETH) has seen its largest increase in daily active addresses since March, with a total of 617,170 active ETH addresses. This indicates a growing confidence in Ethereum among users. ETH is currently trading at $3,375.

On the other hand, Bitcoin is experiencing a decrease in exchange-related on-chain activity, signaling a decline in investor interest and reduced network usage. Bitcoin is currently trading at $62,265.