Chainlink drops 21% despite 18 days of outflows
6.7 Markets Chainlink has seen 18 days of exchange outflows and a 20.8% price drop in October. Despite reduced reserves and no ETF inflows, the price has not rebounded, raising concerns about sentiment.
Chainlink (LINK) has seen 18 consecutive days of outflows from Binance and other exchanges, with reserves dropping to 124.2 million tokens. Typically, such outflows are viewed as bullish, suggesting accumulation by investors. However, LINK’s price has fallen about 20.8% since the start of October, currently trading near $11.37–$11.58. Additionally, US Chainlink ETFs have recorded no net inflows for eight straight sessions, signaling a slowdown in new investments. Analysts highlight that, despite the ongoing withdrawals, LINK’s price has not rebounded, raising concerns about market sentiment and trader confidence. The persistent outflows may reflect redistribution or strategic moves by larger holders, but have yet to drive a price recovery. Mixed signals in the broader crypto market further contribute to the uncertainty surrounding LINK’s outlook.
