Chainlink (LINK) whale withdrawals from Binance have surged to notable highs even as the token extends its losing streak to seven consecutive months, trading near $8.5 with no clear reversal in sight.
Chainlink Whale Outflows
CryptoQuant analyst Darkfost identified two recent daily peaks in which the top 10 whale outflow transactions on Binance each exceeded 8,000 LINK. The monthly average of outflows has also climbed steadily since mid-February, rising from roughly 2,000 LINK per day to around 2,600.
"In this context of generalized weakness across altcoins, this rise in whale withdrawals on LINK could indicate growing interest from certain large players, possibly in anticipation of future market moves," Darkfost wrote.
Exchange withdrawals at that scale typically reduce available sell-side liquidity, though Darkfost noted that similar accumulation phases earlier in this correction failed to shift market trends.
Data showed 25,420 wallets now hold at least 1,000 LINK tokens — the highest count since Dec. 4.
Larger wallets have been gradually returning to the network while the token trades in a $9-to-$10 range since early February.
Also Read: Bitcoin Goes Below $67K After Trump Vows To Bomb Iran To 'Stone Ages'
LINK ETF Inflows Slow
On the institutional front, spot LINK ETFs from Grayscale and Bitwise have avoided net outflows entirely since launch, according to SoSoValue data.
Cumulative inflows have topped $98 million. But the pace has dropped sharply — from over $59 million in December to roughly $10.8 million in March — and multiple zero-flow sessions suggest institutional appetite remains limited.
LINK has now posted seven straight monthly declines, the longest such streak on record, and is down approximately 2.3% in early April.
Read Next: Ethereum Drops Below $2,120 As Bears Regain Control
