Chainlink Shake-Up: Investors Pull $120 Million From Exchanges

Chainlink (LINK) cryptocurrency has witnessed significant token flows off exchanges just recently. Over $120 million of LINK tokens have been taken off trading platforms within the last 30 days, reports blockchain analysis company IntoTheBlock.

Investors Take LINK To Cold Storage

The huge outflow indicates a change in investor sentiment. This trend usually indicates holders moving their funds to private wallets for long-term storage instead of getting ready to sell. When exchange supply declines, prices may increase if demand remains firm or grows.

Whereas most investors now seem to be buying LINK, the market also continues to have occasional whale selling. Such gigantic trades serve to keep liquidity active in the Chainlink economy while striking a balance between selling activity and withdrawals.

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