š” Large Chainlink LINK Withdrawals Spotted on Binance
On-chain data shows notable movement around Chainlink. Over the past three days, 11 newly created wallets have withdrawn a combined 1.567 million LINK from Binance, valued at roughly 19.8 million dollars. What stands out is not just the size of the withdrawals, but their timing and structure.
šø LINK showing early signs of strength
From a technical perspective, LINK is still in a recovery phase. Price remains capped below the 200 day moving average and under all major moving averages. Recent rebounds have been short lived, and overall momentum remains muted.
Typically, large players do not pull liquidity from exchanges during strong uptrends. This kind of behavior often appears when downside risk feels limited, sentiment is neutral and price action is compressed. Exchange outflows reduce immediate sell side supply. While that alone does not guarantee upside, it does mean less demand is needed to move price when fewer tokens are sitting on exchanges.
The fact that these wallets are newly created adds weight to the signal. It looks more like fresh cold storage allocation than internal wallet shuffling. Whether this reflects long term accumulation, OTC activity or institutional custody, the intent appears protective rather than speculative. Funds are being moved away from platforms designed for selling, not recycled for yield strategies.
šø Is selling pressure fading
Price action subtly supports this view. Even as LINK prints lower highs, selling pressure has weakened. Recent lows are being defended calmly, with no signs of panic selling, and volume during pullbacks continues to shrink. This behavior often appears when distribution is ending and early accumulation begins quietly, though it is still too early to call it bullish.
From a narrative angle, Chainlink remains well positioned at the crossroads of real world assets, tokenization and cross chain infrastructure, keeping it relevant as broader market themes evolve.
