Spartan Group's Alleged Address Sends $2.31M LINK to Binance Amid Price Surge
CryptoNewsTerminal Staff17 May, 2024
Spartan Group's Alleged Address Sends $2.31M LINK to Binance Amid Price Surge
Today, on-chain cryptocurrency analyst EmberCN reported via Twitter that “An alleged address of crypto investment institution Spartan Group withdrew 140,000 LINK ($2.31 million) from decentralized lending protocol Aave and deposited it to Binance 20 minutes ago.” This news comes as the price of LINK surged following the announcement of its integration with the likes of the Depository Trust & Clearing Corporation (DTCC). According to CoinMarketCap, LINK is currently trading at $16.40, a significant 18.38% increase. It's important to note that the address in question has not been officially confirmed to belong to Spartan Group. However, the timing of the transaction, coupled with the recent price surge in LINK, has led many to speculate that the funds may indeed belong to the investment firm. This development is particularly significant in light of the recent volatility in the cryptocurrency market. The price of LINK has been on a steady upward trend in recent weeks, and this latest news could further fuel its momentum. It remains to be seen whether the funds deposited into Binance will be used for trading or other purposes, but it's certainly a development worth monitoring.
