Chainlink (LINK), the decentralized oracle network that powers smart contract infrastructure, has seen a not-too-subtle trend over the last few weeks—steady outflows from crypto exchanges. These outflows could indicate that LINK is seeing some long-term accumulation by investors. Crypto exchanges are now without tokens worth more than $120 million that we know of, and this doesn’t even factor in any possible withdrawal that’s being undertaken by the folks managing LINK’s apparent substantial reserves. This is a quantity of LINK that has both the appearance and the reality of being in tight supply. LINK’s constant movement away from exchanges is seen as a bold signal in the crypto space. When tokens are moved onto secure, long-term storage, it typically indicates that investors are making a declaration of HODL (hold on for dear life!) rather than looking to sell in the near future. LINK’s HODL signal has added even more fuel to the fire of speculation that our next Bitcoin bull run is around the corner. Keep an eye on altcoin exchange flows $LINK has seen consistent outflows from exchanges over the past month, hinting at ongoing accumulation. In total, net outflows surpass $120 million worth of LINK in the last 30 days. pic.twitter.com/XbU4qsGuWd — IntoTheBlock (@intotheblock) April 22, 2025 Support Builds at $6.30, Resistance Looms at $15.22 Ali Martinez, an on-chain analyst, underscored that nearly 376 million LINK tokens were gathered at an average price point of $6.30. This gathering zone has now turned into a significant support level, affording an impressive base for price action if a correction were to happen. Martinez’s analysis hammers home the notion that many investors have a case of strong hands when it comes to LINK’s long-term prospects. That is especially true for those who bought at the accumulation price and have shown no inclination to cash out. Over 376 million #Chainlink $LINK were accumulated around $6.30, marking a key support zone. The main resistance to watch sits at $15.22. pic.twitter.com/1jC5m1HMNn — Ali (@ali_charts) April 21, 2025 As of the current writing, LINK has just managed to return above the $13 level, which is a price point that carries a lot of psychological and technical weight. This is an important step along the road of LINK’s recovery, and it is now aiming for a push toward the next major roadblock at $15.22. If it can get past that, it’s a pretty clear signal that a trend of very nice green candles has taken hold. Adding further strength to this bullish story is the immobility of the bulk of LINK tokens. At present, 73% of all Chainlink tokens have not moved in over two years. This is a level of holding that indicates deep-rooted investor confidence, often a hallmark of assets with strong potential for long-term appreciation and low risk. Adding to the bullish narrative is the fact that 66% of wallet addresses associated with LINK have also remained inactive over the same period. $LINK 73% of all tokens and 66% of addresses haven’t moved in over two years. That’s not just patience, it’s conviction. Think about everything that’s happened in that time. Narratives flipped, conspiracies and psyops turned out to be real, and huge partnerships were… pic.twitter.com/6UbQyLfkPv — Arca (@arcamids) April 22, 2025 These statistics indicate that Chainlink is penetrating a market that is maturing. The volatility that is associated with a young market tends to be tempered when there are long-term holders who see value in the future of the protocol. Institutional and Whale Interest on the Rise A particularly telling development is that wallets with between 100,000 and 1,000,000 LINK tokens — often referred to as ‘whale wallets’ — have surged to an all-time high. We now have 621 such wallets, reflecting a growing interest from large-scale, possibly institutional, investors. New ATH for wallets holding 100k to 1M $Link at 621 Wallets. 1M to 10M continues to trend higher. I may be wrong but from what i can see, this is the largest and most sustained divergence between price and whale accumulation in Links entire history. https://t.co/Omdgk31yQX pic.twitter.com/JyJTWbUiWR — J11 (@LinkWarLord) April 22, 2025 The gathering of these strong-value wallets indicates that really smart money is coming into the Chainlink ecosystem. It also suggests that this growth is not just a flash in the pan but something that sophisticated market players see as having long-term potential and value in. When you look at all of those things together, it does paint a very bullish picture. To sum up, Chainlink is exhibiting all the hallmarks of a quietly accumulated token favored by shrewd investors. With more than $120 million in net outflow from exchanges, a solid price base at $6.30, and a crucial resistance level nearby at $15.22, LINK is under the spotlight to see if it’ll blast off and make something of a new, shiny short-term uptrend. Add to that the fact that most of the tokens out there seem to be diversions for whatever whales are doing, and Chainlink’s current price action looks like it could be more than just a temporary rally. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
