Quickly understand the history and background of various well-known coins

Chainlink Sees $120M Token Outflow, Price Jumps 14%

Coin WorldThursday, Apr 24, 2025 10:41 am ET

2min read

Chainlink (LINK) cryptocurrency has recently experienced a significant outflow of tokens from exchanges. Over the past 30 days, more than $120 million worth of LINK tokens have been withdrawn from trading platforms, according to blockchain analysis company IntoTheBlock. This substantial outflow suggests a shift in investor sentiment, as holders are moving their funds to private wallets for long-term storage rather than preparing to sell. When the supply of a cryptocurrency on exchanges decreases, it can lead to an increase in prices if demand remains steady or grows.

While many investors are currently buying LINK, the market also sees occasional large sales by whales. These significant trades help maintain liquidity in the Chainlink economy and balance selling activity with withdrawals. The recent price movements of LINK have been notable, with the cryptocurrency breaking through the $12.50 support level that had defined its price patterns earlier this year. As of the latest data, Chainlink is trading at $14.45, representing a 14% increase over the past week, and has a total market value of nearly $10 billion.

Some experts predict that LINK could reach $26 by December. However, these projections are highly dependent on the performance of Bitcoin. Historically, when Bitcoin's price rises, other cryptocurrencies like Chainlink tend to follow suit. Any weakness in the overall crypto market could slow down the upward movement of LINK. Contrary to the optimistic outlook, certain technical indicators suggest a possible 28% decline to $10 by May 24, 2025. Current sentiment gauges show a mix of neutral and greedy sentiments, with technical analysis indicating a "Neutral" stance while the Fear & Greed Index measures 64, reflecting "Greed."

Despite the market fluctuations, Chainlink continues to expand its partnership network. On April 21, 2025, the Digital Chamber announced that Chainlink Labs had joined its Executive Committee, bringing the project closer to regulatory deliberations and policy-making. The following day, blockchain platform Monad revealed that Chainlink tools, including data feeds and cross-chain capabilities, would be supported on its mainnet from day one. Additionally, Chainlink is collaborating with major financial institutions such as Swift, DTCC, and Fidelity, as well as integrating with platforms like Aave and Lido. These partnerships demonstrate Chainlink's focus on core development rather than short-term market performance.

Chainlink has also ventured into the tokenization of real-world assets (RWAs). In March, it collaborated with Abu Dhabi Global Market (ADGM) to advance tokenization initiatives. This move aligns with the growing trend of bringing traditional assets into the blockchain ecosystem, potentially opening new avenues for investment and liquidity. Over the past 30 days, LINK has had 16 green days, indicating a 50% positive price movement. Price movements have reached as high as 8.40% during this period, showcasing the cryptocurrency's volatility and potential for growth.

Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.