Chainlink: 30 Wallet Dem Withdraw 6.25M LINK from Binance
Since di mid-October market crash, Chainlink holders don withdraw over 6.25 million LINK (about $116.7 million) from Binance. On-chain data first show say three new Ethereum wallets move 825,750 LINK (~$15.2 million) on Oct 20. Lookonchain analysis show say 30 newly created wallets don pull out total 6,256,893 LINK since Oct 11. These big LINK withdrawals mean say sell pressure for Chainlink don reduce, and e dey signal say people dey shift to hold long-term or use am for staking and DeFi activities. Traders suppose dey watch Binance flows and on-chain metrics for signs say supply dey tighten and potential price support for LINK.
Bullish
Plenty LINK wey new wallets withdraw large large dey reduce supply for exchange and e dey reduce immediate sell pressure, wey usually mean good thing for Chainlink price. For short term, traders fit see support level go up as fewer tokens dey available for sale for Binance. For long term, when LINK move comot for exchange go wallets for staking or DeFi use, e show say holders wan lock tokens, wey go further tighten circulating supply and support better bullish trend wey go last.