Chainlink Whales Pull $12M+ LINK From Binance, Bullish
On-chain data shows two significant Chainlink whales have withdrawn over $12M in LINK from Binance in separate transactions. A newly created wallet pulled approximately 490,188 LINK (~$9M) and now holds 771,095 LINK (~$14M), while address 0x617 removed 168,760 LINK (~$3.08M) over three days, including a 30,620 LINK (~$550K) transfer just an hour ago. These large-scale CEX withdrawals reduce sell pressure on Binance reserves and may signal bullish momentum for Chainlink. Traders should closely watch on-chain flows, exchange LINK balances, and price action for potential upside opportunities.
Bullish
The removal of over $12M in LINK from Binance by two whales reduces immediate sell-side pressure, which is a bullish indicator in the short term as it may constrain available market supply. The pattern of accumulation off exchanges reflects increased confidence in Chainlink’s fundamentals, supporting a positive outlook in the medium to long term. Historically, significant CEX outflows often precede price rallies, suggesting that this coordinated withdrawal could trigger upward momentum. Traders might view this on-chain activity as a leading signal to enter long positions, expecting a potential price uptick driven by tightened liquidity and renewed market sentiment.