Chainlink whales have withdrawn $22 million worth of LINK from exchanges over recent weeks, moving their holdings to multisig wallets for long-term storage. Chainlink’s market cap stands at $6.25 billion with daily trading activity of $215 million and a volume-to-market-cap ratio of 3.36%, indicating normal liquidity but no institutional participation: spot Chainlink ETFs recorded zero weekly activity. LINK is trading around the demand zone between $5.638 and $8.727, a formation dating back four years from which the last three rallies to $22, $29, and $27 originated. If this zone holds, the price could reach $20, but a decline to $4.85 remains possible.
Source: Read the original article
