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Production of bean sprouts using the toxin 6-Benzylaminopurine (6-BAP) has led to criminal proceedings in Lao Cai, authorities said, after police uncovered a facility supplying toxic sprouts to wholesale markets. On April 4, Lao Cai Provincial Police announced the indictment of Chu Thi Hoa (born 1990, from Phu Tho) for…
The Chainlink price has failed to show signs of a bullish recovery since it fell below the $10 level in early February. Despite broader weakness across the cryptocurrency market, LINK has shown limited optimism, trading nearly 70% below its cycle high of $25. Latest on-chain observations indicate the token could face renewed bearish pressure in the coming weeks.
On April 3, an on-chain analyst using the pseudonym Darkfost reported that large amounts of Chainlink tokens were transferred to Binance over the previous day. The analyst said market participants appear to be using the weekend’s typically low volatility to move sizable digital assets.
Darkfost noted that transfers totaled 14.9 million LINK on Friday, including approximately 14.7 million LINK sent to Binance, the largest cryptocurrency exchange by trading volume. The movement was valued at roughly $126 million.
The analyst highlighted that weekend trading volumes are often lower, which can make large exchange inflows more notable. Darkfost also pointed to possible explanations for the transfers, including:
In conclusion, Darkfost cautioned that exchange inflows of this size and nature can signal potential downside pressure for the Chainlink price.
At the time of writing, LINK is trading at around $8.7, up about 0.5% over the past 24 hours. Over the past week, CoinGecko data cited in the report shows the altcoin is up approximately 1.5%.
In brief\n\nBitcoin dropped to about $93,000, falling back below the EMA50 and putting its recent golden cross at risk of invalidation. The global crypto market cap stands at $3.15 trillion, down 2.38% in 24 hours. On Myriad Markets, 82% of the money is betting on Bitcoin pumping to $100K before…
