Deep-pocketed investors are suddenly scooping up massive amounts of Chainlink (LINK) and one other Ethereum (ETH)-based altcoin, according to on-chain data.

The blockchain data tracker Lookonchain noticed that newly created crypto whale wallets were accumulating two digital assets Wednesday using the top global crypto exchange Binance.

One crypto whale scooped up more than $4 million worth of decentralized finance (DeFi) protocol Maker (MKR), according to Lookonchain.

“Fresh whale wallets are accumulating MKR and LINK today.

0xE68E withdrew 3,150 MKR ($4.55M) from Binance [Wednesday].”

Maker is trading for $1,489 at time of writing, up 4.8% in the last 24 hours.

Lookonchain says another whale is accumulating large amounts of decentralized oracle provider Chainlink, having loaded up more than $2 million worth of LINK Wednesday, on top of the nearly $5.8 million the whale bought 10 days prior.

“0x8eAD withdrew 136,146 LINK($2.05M) from Binance [Wednesday] and has withdrawn 384,006 LINK ($5.79M) from Binance in the past 10 days.”

Chainlink is trading for $16.40 at time of writing, up 9.4% in the last 24 hours.

Lookonchain also noticed that one crypto whale made enormous profits trading decentralized finance (DeFi) lending protocol Aave (AAVE).

“In 3.6 years, this early AAVE buyer turned $500,000 into $13 million, making $12.5M (25x)! He sold 30,000 AAVE($3.01M) via Cumberland to take profits [Tuesday] and has 100,000 AAVE($10M) left. He spent 500,000 USDC to buy 12.5M LEND at $0.04 on May 6, 2020 (migrated to 12,500 AAVE).”

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Author: Daily Hodl Staff

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