Recent weeks have brought a surge of attention to Chainlink (LINK) within the cryptocurrency market, with data from Binance showing an all-time high in the amount of LINK being withdrawn from the exchange to external wallets during May 2025. These developments are accompanied by a striking increase in the number of addresses holding large LINK balances.
Unprecedented LINK outflows from Binance
According to Binance data, more than 3,600 LINK tokens on average were withdrawn daily from the platform throughout May. On several days, withdrawals exceeded 5,000 LINK, marking the busiest period of outflows this year. Experts indicate that such activity typically signals investors are opting for longer-term holding strategies, moving their assets off exchanges for increased security or strategic reasons.
The uptick in LINK withdrawals comes even as the token trades at a level still about 66 percent below its all-time high. When withdrawals increase while the price remains flat, it often leads to reduced exchange supply, which can set the stage for price changes if buying demand rises in the future.
While the crypto market has staged a recovery after dipping earlier this year, the anticipated price momentum has not yet materialized across many altcoins.
Market watchers interpret the growing wave of major LINK withdrawals on Binance as a sign that investors are embracing a longer-term approach during periods of low price volatility.
At the same time, tokens like HYPE have seen substantial surges across the market, while LINK’s price has remained comparatively stable. Nonetheless, the significant withdrawal trend has shifted focus toward LINK and its large holders.
Investors monitoring exchange flows are especially attentive to whether similar withdrawal patterns will persist in other prominent coins.
Whale accumulation at all-time high
On-chain analytics reveal a parallel surge in the accumulation of LINK by major holders. The number of wallet addresses each holding at least 100,000 LINK has climbed to 805—a record high—after increasing by 8 percent in just two months. This signals that accumulation by large investors is accelerating despite a relatively stagnant market.
Throughout this period, LINK’s price has remained steady around $9.55. Accumulation by major investors at these price levels is often interpreted as a reduction in short-term trading pressure, with a shift toward longer-term positioning in the market.
Such whale accumulation typically escapes broader attention during periods of price consolidation. However, the combination of increased exchange withdrawals and rising large-holder activity makes the current trend especially noteworthy.
Both exchange and on-chain data point to significant capital flows within Chainlink’s ecosystem, suggesting a repositioning among key market participants.
Despite this, a cautious tone still dominates the wider landscape of the crypto market. Nevertheless, enthusiasts and analysts remain focused on evaluating how these whale movements could ultimately impact LINK’s price trajectory.
Quick glossary: On-chain data refers to direct, transparent statistical information obtained by tracking transactions and wallet addresses on a cryptocurrency’s blockchain network. This makes it possible to analyze the movements of major investors in real time.
| Period | Average Daily LINK Withdrawals (Binance) | Number of Wallets with 100K+ LINK | LINK Price |
|---|---|---|---|
| March 2025 | 2,500 | 745 | $10.80 |
| May 2025 | 3,600+ | 805 | $9.55 |
