Chainlink has recently attracted market attention due to significant increases in large LINK withdrawals from Binance. CryptoQuant analyst Darkfost noted that the top 10 LINK outflow transactions on Binance have reached their highest level for 2025. The analyst pointed out that in May, the average maximum daily outflow exceeded 3,600 LINK, with some days surpassing 5,000 LINK. This phenomenon typically indicates that investors are transferring tokens from exchanges to external wallets for long-term holding.
Moreover, the overall altcoin market has begun to recover from its February lows. Darkfost mentioned that Total3 (which tracks the total crypto market cap excluding Bitcoin, Ethereum, and stablecoins) has rebounded over 15% from that low.
๐๏ธ LINK's top 10 outflows hit a new high for 2025. Despite the overall crypto market still facing challenges, early signs of recovery have gradually emerged since the local low in early February. ๐ Total3 measures the total crypto marketโฆ pic.twitter.com/WG9sqoZAr5โ Darkfost (@Darkfost_Coc) May 27, 2026
However, the pace of recovery is not uniform. Some tokens are performing strongly, while many assets remain far below their previous highs.
Chainlink's price is still below a critical recovery level, with a current market cap of approximately $6.84 billion and a circulating supply of 727.09 million LINK. Chainlink's maximum supply is 1 billion LINK, which keeps long-term investors attentive to supply data.
Technical data indicates that LINK's trading price is below the 20-day Bollinger Band midline of $9.87. The upper band is around $10.76, while the lower band is near $8.99.
The increase in whale wallets further strengthens the accumulation signal. Just two days ago, data from Santiment indicated a rise in whale activity. The analytics platform stated that Chainlink now has 805 wallets holding at least 100,000 LINK, a record high. These wallets have increased by 8.2% over seven weeks.
๐ณ๐ฆ Chainlink now has a record 805 wallets holding at least 100,000 $LINK (currently worth about $958,000 or more). The number of wallets holding over 100,000 LINK has grown by 8.2% in seven weeks. Major holders are becoming increasingly bullish on the 16th largest crypto market. ๐ https://t.co/FIulS259k9pic.twitter.com/MCuK2vDIBXโ Santiment Intelligence (@SantimentData) May 25, 2026
This further corroborates the outflow signal. When large wallets grow while tokens leave exchanges, traders typically view this as accumulation, potentially indicating that large holders are preparing for long-term investment rather than short-term selling.
However, this situation has not yet confirmed a reversal. Darkfost warned that โa single indicator is insufficient to confirm a market structure reversal.โ
This warning is crucial as LINK continues to operate within a weak technical range. The Chaikin Money Flow index is close to -0.07, indicating slight negative money flow. Although selling pressure exists, it is not extreme.
Chainlink's fundamentals remain actively operational.