Chainlink Sees Largest Exchange Outflow Since June as Bullish Signals Emerge

Chainlink recently experienced its largest exchange outflow since June 29, with 1.26 million tokens leaving exchanges over a 24-hour period.

This drop in exchange supply means fewer Chainlink tokens are available for quick sell orders, which could lower the risk of future sell-offs, according to Santiment.

The timing of this move is interesting, as July saw Chainlink listed among the technology providers for tokenized US securities trades processed by the DTCC. Additionally, its Cross-Chain Interoperability Protocol (CCIP) expanded support across institutional and crypto networks.

Against this backdrop, whale activity around Chainlink has picked up significantly, indicating stronger confidence among major holders. The network also ranked second in Santiment's RWA development ranking behind Hedera after showing improved activity compared to the previous month.