Chainlink LINK Deposit of $224M to Binance Signals Sell Pressure
On June 21, on-chain analyst Ai Auntie first reported a transfer of 3 million LINK tokens (about $37.5 million) from Chainlink’s non-circulating supply address to Binance—the largest deposit in three months. Later updates revealed five non-circulating addresses moved a total of 17.855 million LINK (approximately $224 million) into Binance over a 10-hour window at an average price of $12.56 per LINK. Such significant LINK deposits to a major exchange highlight a shift in crypto liquidity and may precede increased selling pressure. Traders should closely monitor exchange reserves and on-chain inflows, as prior large LINK transfers have often led to short-term price corrections. Understanding these movements can help investors adjust strategies and manage risk.
Bearish
Large LINK transfers from non-circulating addresses to Binance historically signal potential sell pressure and short-term price corrections. The combined inflow of over 17 million LINK worth $224 million far exceeds typical deposits and suggests that major holders may be preparing to liquidate or rebalance positions. In the short term, increased exchange reserves often lead to downward price movement as tokens become available for sale. Over the long term, while Chainlink’s fundamentals remain unchanged, frequent large-scale inflows can weigh on market sentiment and delay sustained bullish momentum.