According to cryptocurrency onchain data, a crypto wallet connected to developers of an altcoin transferred funds to a centralized cryptocurrency exchange after a five-year dormancy period.
Data shows that a total of 79,474 LINK tokens worth $1.12 million were transferred to Coinbase from a cryptocurrency wallet linked to Chainlink (LINK) developers.
If these sent assets were sold, the owners of the developer wallet would have made a profit of 1958% on this investment based on the purchase price.
These tokens were transferred from multiple cryptocurrency addresses to the developer-linked address between October 2018 and February 2020. At the time, the LINK price was around $0.68. At the time of today’s transfer, LINK was trading at $14.13. If the developers had actually sold, they would have made a total of $1.06 million from this transaction.
Although the LINK price is trading at a much higher level than five years ago, this wallet actually lost a significant amount of profit by not selling in the bull run of 2021. LINK, which broke the record for the highest price level of all time at that time, climbed to $ 52.
*This is not investment advice.
