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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/blockfi-transfers-massive-chainlink-holdings-to-kraken-exchange/" data-wpel-link="internal">BlockFi Transfers Massive Chainlink Holdings to Kraken Exchange</a><br></p>
<p style="text-align: justify">The bankrupt <strong>BlockFi</strong> has reportedly transferred a large amount of <a href="https://coin-turk.com/altcoinler-kizila-boyandi-ethereum-eth-litecoin-ltc-ve-chainlink-link-dususte" data-wpel-link="internal">Chainlink</a> (LINK) tokens, valued at $46.5 million, to the Kraken exchange. This transaction, uncovered by on-chain analyst EmberCN, has sparked discussions about its potential market impact.</p> 
<h2 id="major-transfer-in-link">Major Transfer in LINK</h2> 
<p style="text-align: justify">The mentioned transfer included 2,402,945 LINK tokens and highlighted the magnitude within the total $48.37 million worth of various cryptocurrencies moved to <strong>Kraken</strong>. This action takes place against the backdrop of BlockFi’s bankruptcy journey. The analyst stated the following:</p> 
<blockquote> 
 <p style="text-align: justify">The bankrupt crypto lending platform BlockFi transferred 17 <strong>tokens</strong> worth $48.37 million to Kraken… The top four tokens transferred from BlockFi to Kraken include: 2,402,945 LINK ($46.5 million); 90,993 UNI ($0.68 million); 16,570 AVAX ($0.63 million); and 468,506 MATIC ($0.47 million).</p> 
</blockquote> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-317782 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/link-1.webp" alt="" width="850" height="629"></p> 
<h2 id="recent-developments-in-link">Recent Developments in LINK</h2> 
<p style="text-align: justify">In September 2023, the company got the green light to start customer repayments as part of its liquidation plan. Following this, in October, <strong>BlockFi</strong> announced it had emerged from bankruptcy. The company resumed withdrawal services for its customers, interest account holders, and individual loan clients. This was a significant step towards returning to normal operations. However, some market whales are taking a different path by accumulating <strong>LINK</strong> and adding more complex layers to the situation. According to Spot On Chain, a crypto whale withdrew 194,400 LINK (approximately $3.67 million) from <strong><a href="https://en.coin-turk.com/binance-founder-barred-from-returning-to-uae-ahead-of-us-sentencing/" data-wpel-link="internal">Binance</a></strong>, indicating a bullish trend on LINK.</p> 
<p style="text-align: justify">This withdrawal could signify an important move in the transaction cycle that started with the purchase of 928,016 LINK at an average price of $17.35 since January 28, 2024, totaling about $16.1 million. Experts believe LINK is at a critical point, testing the lower trend line of a descending channel. This scenario could indicate a potential recovery towards the upper channel boundary around $19.70. Market sentiment and future price direction could hinge on a breakout or breakdown from this pattern.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/blockfi-transfers-massive-chainlink-holdings-to-kraken-exchange/" data-wpel-link="internal">BlockFi Transfers Massive Chainlink Holdings to Kraken Exchange</a></h5>

BlockFi Transfers Massive Chainlink Holdings to Kraken Exchange

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