Chainlink (LINK) is showing signs of strong accumulation, evidenced by a significant net outflow from cryptocurrency exchanges. IntoTheBlock, a leading on-chain analytics firm, reports that roughly $120 million worth of LINK has been withdrawn from exchanges over the past month. This net outflow suggests that investors are moving their LINK tokens off exchanges, likely into cold storage or staking platforms, indicating a long-term investment strategy. A reduction in exchange supply can often lead to increased price pressure, as there are fewer tokens readily available for trading. While the reasons behind this accumulation are multifaceted, potential drivers include anticipation of future Chainlink network upgrades, increasing adoption of Chainlink services within the DeFi space, and overall positive sentiment towards the project's long-term prospects. The decreasing supply on exchanges, coupled with growing demand, could potentially create favorable conditions for future LINK price appreciation. ```