Chainlink: 30 Wallets Withdraw 6.25M LINK from Binance

Published: 2025-10-20 09:05:44 |

Since the mid-October market crash, Chainlink holders have withdrawn over 6.25 million LINK (about $116.7 million) from Binance. On-chain data first highlighted three new Ethereum wallets moving 825,750 LINK (~$15.2 million) on Oct. 20. A broader analysis by Lookonchain shows 30 newly created wallets have pulled out a total of 6,256,893 LINK since Oct. 11. These large LINK withdrawals suggest reduced sell pressure on Chainlink and signal a shift towards long-term holding or use in staking and DeFi activities. Traders should watch Binance flows and on-chain metrics for signs of tightening supply and potential price support for LINK.

Bullish

Large-scale LINK withdrawals by new wallets reduce on-exchange supply and lower immediate sell pressure, which is typically bullish for Chainlink’s price. In the short term, traders may see increased support levels as fewer tokens remain available for sale on Binance. Over the longer term, the movement of LINK off-exchange into wallets for potential staking or DeFi use indicates holders’ intent to lock up tokens, further tightening circulating supply and supporting a sustained bullish trend.