Chainlink
Chainlink sees largest exchange outflow since June amid investor accumulation
On-chain data shows 1.26 million LINK withdrawn from exchanges, the highest daily outflow in over two months, as investors move holdings to self-custody.
Chainlink recorded its largest daily exchange outflow since late June, with nearly 1.26 million LINK moving into self-custody rather than remaining on trading platforms. According to Santiment data, the sharp decline in exchange balances signals growing long-term accumulation by investors and suggests reduced selling pressure on the token.
The outflow reflects renewed interest in Chainlink's ecosystem at a time when the token has been consolidating around the $8.14 support level. While on-chain accumulation patterns often correlate with investor confidence, LINK has struggled to sustain recoveries above nearby resistance zones, remaining confined within a narrow trading range.
The $8.14 support remains critical for the token's near-term direction. A sustained hold above this level could provide a base for another recovery attempt toward the $9.04–$9.47 resistance zone. However, a break below this support may expose the next major demand area around $7.07. Technical indicators show the Relative Strength Index has slipped below the neutral 50 level, reflecting slowing bullish momentum after recent price rejections.
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