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- Over 15 million LINK were withdrawn from exchanges in 30 days, signaling strong accumulation and growing supply illiquidity.
- Exchange reserves dropped from 180M to 146M LINK, indicating long-term holders and staking activity are tightening circulating supply.
Signs of massive accumulation are beginning to emerge on the Chainlink network. According to on-chain analyst Moreno on CryptoQuant, over 15 million LINK tokens have been withdrawn from exchanges in less than a month.
Over the course of this year, LINK reserves held on exchange platforms have dwindled from over 180 million to just around 146 million.
This decrease of 34 million tokens equates to a decrease in the supply from 18% to 15% of the total supply.
Simply put, less LINK available on exchanges means less immediate selling pressure in the market. On the other hand, if demand for the token remains stable or even increases, this could pave the way for an unexpected price surge.
Furthermore, if a significant portion of the withdrawn tokens are channeled into staking, DeFi, or long-term wallets, the readily available supply will become increasingly scarce.
Interestingly, each time there is a surge in tokens entering exchanges, it often coincides with a local price peak. This means many investors are taking profits when the price is perceived to be sufficiently high.
Conversely, large withdrawal waves like the current one are often followed by a subsequent accumulation phase or upward momentum. Moreno believes this pattern indicates confidence from large players who are starting to reduce their exposure on the exchange.
Technical Pattern Hints at Big Move for LINK
Buying pressure is not yet clearly visible on the daily chart, but popular analyst Ali Martinez states that the LINK price is still within a Symmetrical Triangle pattern.
Ali estimates that a potential correction to $15 could actually become a “golden buy zone” before a breakthrough towards $100. If the accumulation trend continues and demand is maintained, it’s possible the price will follow suit.
A dip to $15 could be the golden buy zone for Chainlink $LINK before the breakout to $100. pic.twitter.com/3gQrDQw4pw
— Ali (@ali_charts) November 2, 2025
Meanwhile, as of press time, LINK is trading at about $16.32, down 6.22% in the last 24 hours. Daily trading volume is recorded at $124.27 million, while the market cap has reached $11.30 billion. Although the price appears sluggish in the short term, on-chain figures actually paint a more optimistic picture.
Chainlink Expands Reach With TON and Ondo Alliances
Furthermore, in terms of ecosystem development, Chainlink is also busy forging new partnerships.
A few days ago, CNF reported that Chainlink launched CCIP and Data Streams on the TON network. This integration aims to address the long-standing issue of liquidity fragmentation plaguing the crypto industry. By connecting TON to Chainlink’s cross-chain network, access to global liquidity becomes more accessible.
Furthermore, Chainlink is also partnering with Ondo Finance on a faster and more massive stock and ETF tokenization project.
This collaboration brings Chainlink into the Ondo Global Market Alliance, a network of leading wallets, exchanges, and custodians. All of these steps not only expand LINK’s use cases but also strengthen Chainlink’s position as a trusted data infrastructure in the era of tokenization.
