$16 Mln+ in LINK Sent to Binance Wallets – ‘Largest Daily Volume We’ve Seen So Far’: Glassnode Report

Mon, 07/06/2020 - 07:55
Yuri Molchan
Glassnode agency reports that Binance recently saw the largest registered net transfer volume of LINK sent to its wallets yet in one day
Cover image via stock.adobe.com

Glassnode analytics firm has reported that over the weekend a massive daily net transfer volume of LINK was registered on Binance as the exchange became the destination of almost 5,000 LINK transactions.

The research firm stated that this was the largest daily amount of transferred crypto their analytics team has ever seen.

$16 mln+ in crypto transferred to Binance in one day

Glassnode has again shared some interesting data with Crypto Twitter. This time, it is regarding Chainlink (LINK) coin, which has recently caught the attention of many investors and traders.

As per the recent Glassnode report, over $16 mln worth of LINK was sent to Binance wallets in one day over the weekend. The analytics firm emphasized that it took almost 5,000 transactions to deliver the amount of LINK to Binance.

The Glassnode analytics team added that this is the largest daily net transfer they have ever observed to the exchange.

Image via @glassnode

Number of LINK transfers plunges

However, another piece of data shared by Glassnode over the weekend stated that the total number of LINK transfers plummeted almost fifty percent from 317.625 to 563.625.

Image via @glassnodealerts

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Multiple LINK fundamentals rising

As covered by U.Today on July 4, a rise in several LINK fundamentals was noticed by Glassnode. In particular, a new major upsurge in LINK exchange deposits within a 24-hour period was registered - a rise of 738.3%.

Additionally, the amount of LINK exchange inflow (up 177.6 percent within 24 hours), number of active wallets, and median volume of transactions also reached new major highs.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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