The price of $LINK may decrease

Despite strong support from major investors, one indicator hints at a possible temporary decline in the price of Chainlink: reserves on exchanges. On August 16, the balance of LINK on exchanges fell to a monthly low of 162.59 million LINK as the rally picked up speed. This was a positive signal, as a lower number of tokens on exchanges typically indicates low selling pressure.

However, by the time of publication, the situation had changed. Reserves have now increased by more than 3,000,000 tokens — to 162.90 million LINK (approximately $7.4 million at current prices). This indicates that some traders are returning LINK to exchanges, possibly to take profits.

Additionally, over the last 24 hours, the balances of large investors' wallets have slightly decreased, suggesting that some of them are no longer buying on the rise. The top 100 LINK addresses also showed slight distribution; negligible, but enough to suggest that profit-taking may be imminent.$LAYER $PROVE