Summary
- Sentora announced that Chainlink (LINK) has been continuously withdrawn from exchanges.
- A total of 3,860,000 LINK have been withdrawn from exchanges since June 20 of last year.
- It was stated that cryptocurrency withdrawals from exchanges are regarded as a positive indicator for price increases because they decrease supply.
An analysis has indicated that Chainlink (LINK) has been consistently withdrawn from exchanges.
On the 30th (local time), Sentora (formerly IntoTheBlock) announced on X (formerly Twitter), "Since June 20 of last year (local time), net outflows of Chainlink from exchanges have been steadily occurring," and added, "A total of 3,860,000 LINK have been withdrawn during this period."
Typically, the withdrawal of cryptocurrencies from exchanges is seen as a positive signal for price increase, as it reduces the supply of tradable assets.
As of 5:43 PM, according to the Binance USDT market, Chainlink is trading at $13.26, down 1.27% over the last 24 hours.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
