On-chain data shows the Whale Transaction Count has shot up for Chainlink recently, a sign that more volatility could be coming for the asset’s price.

Chainlink Whale Transaction Count Is Now At Its Highest Since 2023

In a new post on X, the on-chain analytics firm Santiment has discussed about the latest trend in the Whale Transaction Count for Chainlink. The “Whale Transaction Count” here refers to an indicator that keeps track of the total number of LINK transfers that are valued at more than $100,000.

Such large transactions are assumed to be coming from the whale entities, so this metric’s value basically tells us about the level of activity that these humongous investors are participating in.

When the indicator registers a rise, it means the whales are making a larger number of moves on the network. Such a trend suggests trading interest around the asset is going up among the large holders. On the other hand, the metric going down implies the cryptocurrency may be losing attention from the cohort as they have lowered their transaction activity.

Now, here is the chart shared by Santiment that shows the trend in the Chainlink Whale Transaction Count over the last few months:

As displayed in the above graph, the Chainlink Whale Transaction Count has registered a spike recently as the cryptocurrency’s price has plunged down. This means that the whales have made a large number of trades related to the asset.

At the height of this activity spike, the total number of transactions of this group stood at 1,659, the most since December 2023. Since whale transactions are generally quite sizeable, this high trading interest from these large traders can induce further volatility for the asset’s price.

It’s hard to say which direction the volatility emerging out of this activity might take Chainlink in, however, given that the Whale Transaction Count contains no information about whether buying or selling is dominant.

The fact that the spike has come after the crash, though, could certainly be a positive sign. “When altcoins rebound, keep an eye on this asset,” notes the analytics firm.

In another X post, Santiment has shared about which other altcoins have seen a rise in the Whale Transaction Count during the past week.

From the above table, it’s visible that Dai (DAI) on the BNB blockchain has seen a jump of 400% in the metric over the last seven days, the most out of any altcoin. Out of the non-stablecoin assets, Floki (FLOKI) has topped the list with a spike of 286%.

LINK Price

At the time of writing, Chainlink is trading around $19.8, down around 14% in the last week.

Solana-based DEX Jupiter’s Twitter/X account may have been hacked, according to a warning issued through JupiterDAO’s Twitter/X account. JupiterDAO also asked traders to be careful not to click links or copy-paste any of the released CAs. The hacker reportedly released a large number of token CAs. 

Jupiter’s hacked account also announced the launch of a fake MEOW token, which was later rugged after reaching a 30M market cap, according to crypto researcher and advisor Astronomica. The researcher singled out one transaction in which the hacker made slightly over $460K in WSOL. Surprisingly, some traders who bought the ‘honey pot’ scam token were unable to sell, said one crypto wallet security activist.

Web3 strategist warns that Jupiter’s account is still compromised

The Jupiter Exchange account is still hacked.

The hacker is deleting Tweets and posting again to make the account appear legitimate.

Do not interact, the team is working to get the account back.

— Slorg (@SlorgoftheSlugs) February 6, 2025

According to Web3 strategist and JupiterDAO CWG member Slorg, the X account is still compromised. The Web3 strategist pointed out that the hacker was deleting tweets and posting again, while a crypto enthusiast also mentioned that the hacker hosted a five-minute Space, all to make the hacked account look legitimate. Meteora, a DeFi platform on the Solana blockchain, cautioned users not to interact with the account as Jupiter’s team worked on reclaiming their account. 

Crypto influencer Mika disclosed that the fake MEOW token posted on the hacked account shot up to 30 million market cap in seconds before it was rugged. Jack, a crypto enthusiast, also highlighted that savvy crypto trader Jalen Web3 made nearly $66K in seconds after Jupiter’s account was hacked and a CA was posted. Jalen, a full time degen, confirmed the profits on his personal Twitter/X account.

Venture capitalist Beanie revealed that traders lost millions instantly on this Jupiter hack, literally in a matter of minutes. The VC continued to say that protocols not being able to protect their social media accounts was a ‘paradox’ often seen, especially on Twitter/X.

“It’s amazing how we trust these protocols with billions of dollars in liquidity but they’re not competent enough to protect their social media.”

–Beanie

Beanie added that the bar in the crypto space was too low. ‘Any hack dev can whip up a little script and go from zero to hero in a day here,’ said the VC. 

Jupiter’s team struggles to regain control of Twitter/X account 

The Twitter crypto community responded almost immediately as crypto commentator MartyParty warned traders not to ‘touch anything’ on Jupiter’s Twitter/X account, saying that the official team was unable to get back into the account and delete misleading messages. He added that the last ‘legit post’ was posted over four hours ago, calling on X admins to help Jupiter restore their account.

Tech nerd Ninja_Dev, the founder of AI-driven Web3 security Quick Intel, said the whole incident was a ‘double-edged sword.’ The developer pointed out that the problem could be attributed to ‘trusted accounts who don’t secure their socials fully’ and ‘people who throw life-changing money the instant anyone with a big name posts a token address.’

A crypto enthusiast wondered if all Twitter passwords had become as easy as ‘$123456’, adding that “we are all screwed” if even Jupiter’s account could be hacked. Jupiter called on UK’s BRUV party’s Andrew Tate (Cobratate) to hold a joint Space and try to ‘revive the trenches.’

According to Twitter user SBJ, a reliable source reported that Frank ‘demigods’ could be behind the hack. Frank was suspected of rugging the MLG token only a few days ago. 

Mario Nawfal, founder of the IBC Group, reminded traders and X users to avoid any offers ‘for a piece of the moon’ as Jupiter’s hacked account continued to promote ‘dodgy’ tokens.

Cryptopolitan Academy: Are You Making These Web3 Resume Mistakes? - Find Out Here