- Binance logged 18 straight days of LINK outflows, with the latest at 280,200 LINK.
- LINK fell from roughly $13 to $11.50 despite sustained exchange outflows.
- LINK’s RSI stands at 35, with support at $10.35 and recovery targets at $12 and $13.
Chainlink’s LINK has slid to around $11.50 while tokens keep leaving Binance, leaving traders asking why withdrawals are not lifting the market.
CryptoQuant figures show Binance recording net outflows for 18 consecutive days, the latest at about 280,200 LINK. Over that stretch, the price fell from roughly $13 to near $11.50. The streak began right after a one-day net inflow of about 8.7 million LINK, so part of the outflow may simply be that earlier deposit moving back out.
Across all exchanges, reserves are at roughly 124 million LINK, against about 172.7 million when LINK traded at $29.12 on December 14, 2024.
Withdrawals show where tokens go, not why. They could reflect buyers moving coins into private custody, holders who no longer trade, or transfers between venues.
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What Is Weighing on LINK Price?
Demand from funds has cooled. SoSoValue data shows that the total net assets stood at $209.5 million on October 28, down from $249.4 million a month earlier.
However, supply leaving exchanges does not guarantee gains, because Chainlink Labs deposits roughly 10 million to 20 million LINK every quarter and the market needs three to six weeks to absorb each batch.
What Lifted LINK Before
Earlier rallies needed outside catalysts. In August, Standard Chartered set a $200 target for LINK by 2030, and the Cross-Chain Interoperability Protocol 2.0 upgrade in late September helped push the price above $15.
Levels to Watch
A market turn would need three things: withdrawals continuing, the price holding steady, and spot buying picking up. Until then, a run of lower lows would mean the outflows are an early sign of tighter supply, not proof that the decline is over.
LINK near $11.50 has a relative strength index of 35, bearish but not yet oversold below 30. Support sits at $10.35. On the upside, $12 is the first recovery target, and a daily close above it with a successful retest would put $13 in sight.
For now, the outflows point to tighter exchange supply, not a reversal. Stable prices and fresh spot buying would be the confirmation traders are waiting for.
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Related: Chainlink Price Prediction: Can LINK Reach $12.35 or Fall to $11 This Weekend?
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