Crypto Trader Makes $200K Profit on Chainlink in One Month
• A crypto trader made a $200K profit by swapping 81.158k LINK to 641k USDC within a month.
• Coinbase’s Base integration of Chainlink price feeds on its testnet represents a significant step for the platform.
• Two prominent whales acquired over $5.7 million worth of Chainlink, resulting in a remarkable 15% surge in the LINK price on that day.
Crypto Trader Makes 200K Profit
A savvy crypto trader has turned an initial investment of 81.158k Chainlink (LINK) into 641k USDC within a month, resulting in a $200k profit according to Spot On Chain tweet. The trader is said to have consistently demonstrated an ability to pinpoint the exact points to ‘buy low and sell high’, culminating in this impressive return on investment.
Coinbase’s Integration with Chainlink Price Feeds
Coinbase’s Base integration of Chainlink price feeds on its testnet is set up to facilitate the development of decentralized applications (dApps) by providing off-chain data sources from Chainlink on the Ethereum blockchain ecosystem. This partnership is seen as a major step forward for the platform and will aid developers looking to build dApps using data from outside their own networks.
Chainlink Price Surges After Whale Activities
Recent activities of cryptocurrency whales have also fueled excitement around LINK, with two prominent whales acquiring over $5.7 million worth of tokens leading to an impressive 15% surge in the LINK price on that day alone.
Current Price Analysis
At present,Chainlink is trading at around $7.90 and has experienced a drop of -1.1% over the past seven days according to CoinGecko data; however, it has experienced an overall 30.9% increase within 30 days showing how successful recent whale activities have been for the token overall with its market cap currently sitting at approximately 4 billion USD and circulating supply at 540 million LINK tokens .
Conclusion
The success story outlined above serves as an encouraging example for traders looking to use their skillset combined with long-term investments in order maximize returns while making smart financial decisions when entering emerging markets such as cryptocurrencies which can be volatile but rewarding investments if done correctly .
