Chainlink Exchange Outflows Hit Highest Monthly Level, Will LINK Price Breakout?

Chainlink's price is attracting attention again due to significant exchange outflows. According to on-chain data from Santiment, approximately 1.26 million LINK was withdrawn from centralized exchanges in a single day, marking the largest net exchange outflow since June 29.

This sharp decline in exchange balances suggests investors are increasingly moving their holdings into self-custody, a trend often associated with long-term accumulation and reduced selling pressure.

The latest outflow comes as Chainlink's ecosystem sees renewed interest. While this on-chain activity points to growing confidence among holders, traders will now be watching whether LINK can capitalize on the improving sentiment and reclaim key resistance levels to extend its recovery.