While the cryptocurrency market remains bearish, led by the leading Bitcoin, whales maintain their buying strategy in the two altcoins. WhaleStats data revealed that Ethereum whales are heading for Polygon (MATIC) and Chainlink (LINK) on the decline.
Whales Get LINK and MATIC
The leading cryptocurrency, Bitcoin, caused the crypto money market to turn red with its decline. Bitcoin and other altcoins continue their downward trend with double-digit losses as of the writing of this article. Whales, the major players in the cryptocurrency market, turned to these two altcoins to pursue opportunities in the bearish market.
As previously reported, the buying spree initiated by ETH whales was achieved with the purchase of 838,229 million LINK tokens worth $21,718,997.
Eight major transfers have been made in the last 24 hours. One of the biggest transfers was the purchase of 2,000,000 worth $4,840,000. One of the big buys was 1,239,999 MATIC ($2,951,199) in the recent purchase, according to WhaleStats. Among the top 1,000 ETH wallets currently tracked by WhaleStats, LINK is the most traded token, while Shiba Inu remains the token with the largest position by dollar value.
Chainlink and Polygon Price
Chainlink started the year on a positive note, raising nearly 41% since the start of 2022 to $27.50 on January 5. While LINK fell to $ 24 due to the negative price movements in the market, it lost less than the others.
On the other hand, MATIC has fallen steadily since Jan 1 after touching highs at $2.60. The decreases were driven by current market sales. MATIC is trading at $2.10 at the time of writing.