Whale activity in the crypto market has intensified, with a recent purchase highlighting growing interest in Chainlink ($LINK).

Over the past five hours, a whale spent 1,263 ETH, equivalent to $4.94 million, to acquire 175,424 LINK at an average price of $28.18.

Whales are buying $LINK!

A whale spent 1,263 $ETH($4.94M) to buy 175,424 $LINK at $28.18 in the past 5 hours.https://t.co/Wa5PUg1WpY pic.twitter.com/LoRKxcNjys

— Lookonchain (@lookonchain) December 12, 2024

Adding to the momentum, World Liberty Financial, a fund associated with U.S. President-elect Donald Trump, made significant investments in Ethereum, Aave, and Chainlink in the last hour. The fund allocated $7 million USDC as follows:

– 1,306 ETH ($5M) purchased at an average price of $3,829.

– 3,357 AAVE ($1M) bought at an average price of $297.84.

– 41,335 LINK ($1M) acquired at an average price of $24.19.

U.S. President-elect Donald Trump's World Liberty Financial (@worldlibertyfi) has spent $12M on $ETH, $AAVE, and $LINK in the past 10 hours, including:

• 2,631 $ETH ($10M) at ~$3,801
• 3,357 $AAVE ($1M) at ~$297.8
• 41,335 $LINK ($1M) at ~$24.19

This is the fund's first… pic.twitter.com/izCy3nLGjR

— Spot On Chain (@spotonchain) December 12, 2024

This marks the fund’s first-ever purchase of AAVE and LINK. Over the past 12 days, World Liberty Financial has spent a total of $30 million USDC on 8,105 ETH, bringing its Ethereum holdings to 14,572 ETH, valued at $57 million.

The fund’s strategic purchases appear to be driving up the prices of ETH, AAVE, and LINK, adding to bullish sentiment in the market.

Chainlink’s rising on-chain activity further bolsters this optimism. The past month has seen new yearly highs in both transactions and active addresses. Additionally, high-profile collaborations with Coinbase’s Project Diamond, Brazil’s Central Bank, and SWIFT are poised to enhance Chainlink’s real-world utility, potentially fueling further demand for LINK.

Chainlink's on-chain activity has been rising over the past month, with new yearly highs in both transactions and active addresses.

The project's recent high-value collaborations, such as with Coinbase's Project Diamond, the Brazil Central Bank, and SWIFT, are likely to further… pic.twitter.com/oRLIQBZJrf

— IntoTheBlock (@intotheblock) December 11, 2024

As major players like whales and institutional funds continue to accumulate, these developments signal growing confidence in the future of these leading cryptocurrencies.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: kaedeezign/123RF // Image Effects by Colorcinch

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