Chainlink Sees Massive Exchange Outflows Amid Market Volatility

Over 63M $LINK left exchanges, showing strong long-term holding despite price volatility between $16-$20.

LINK price hit $14.69 after 2025 decline; multiple reversals indicate ongoing struggle to break downtrend resistance.

Chainlink Rewards Season 1 empowers stakers with Cubes to support projects, boosting ecosystem engagement and token utility.

Chainlink ($LINK) has seen a lot of movement recently, with more than 63 million tokens pulled from exchanges in just a month. This suggests that investors are taking their coins off trading platforms to hold them long-term instead of selling.

As Ali notes, “In the past month, over 63 million Chainlink $LINK have been withdrawn from exchanges!” This large outflow comes during a period of wild price swings, leaving the market wondering what could happen next with LINK.

Source: Ali

The price line for LINK from August to November 2025 shows swings. The token traded around $27 in early August before declining steadily throughout September. Recovery attempts occurred in October, but prices oscillated between $17 and $20. By mid-November, the token consolidated near $16-17, showing only a slight uptick from recent lows

Supply on exchanges started at 195 million tokens in August but declined to 123 million by November, reflecting a strong decrease in available liquidity. Consequently, this outflow pattern aligns with typical long-term holding behavior rather than active selling pressure.

Technical Trends and Market Movements

Rand on X notes that Chainlink ($LINK) might be forming a bullish turnaround, trying to break out of its downward trend. Looking at the three-day chart from early 2024 to November 2025, LINK’s price has been quite shaky

It traded between $18 and $20 at the beginning of 2024 before plummeting to $10. The token recovered to roughly $15 by October 2024, despite selling pressure pushing it through important support levels. LINK doubled from its earlier lows in just four months, reaching over $30 by the end of that year.

Source: Rand

But additional downward pressure in 2025 forced the price back down to $12–13 by November. At $14.69, LINK is currently up 4.45% from its recent lows. The chart highlights the token’s continuous effort to achieve a consistent uptrend by displaying several unsuccessful attempts to break higher.

Chainlink Rewards Season 1 Launch

Amid these market fluctuations, Chainlink officially launched Season 1 of its Rewards program. Eligible LINK stakers receive “Cubes,” a non-transferable unit similar to credit card points. Participants allocate Cubes to Build projects offchain, determining token rewards based on proportional shares. Projects in Season 1 include Dolomite, Space and Time, xSwap, Brickken, FolksFinance, MindNetwork, Suku, TRUFNETWORK, and BitsCrunch

Stakers gain the ability to research and support projects of interest, strengthening alignment between Build projects and the Chainlink community. Allocations remain adjustable until December 9, with token claims beginning December 16.

Exchange Outflows and Investor Behavior

The correlation between declining exchange supply and heightened outflows suggests LINK holders prefer long-term holding. Ali’s data highlights that outflows peaked dramatically in late August, while smaller spikes occurred in September. Through October and early November, outflows stabilized

Despite these potentially bullish supply trends, LINK’s price struggled to maintain momentum, reflecting the broader market’s bearish sentiment.

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