Chainlink (LINK) has steadily climbed toward the $30 mark in recent weeks, but beneath the price chart lies an even more telling story. Exchange netflow data reveals that large amounts of LINK are being transferred from centralised platforms to private wallets. This trend, often seen as a bullish signal, suggests that confidence in LINK’s long-term trajectory is growing. The question now is whether these outflows will continue to fuel momentum beyond $30.
Understanding Exchange Netflows
To grasp the significance of these movements, it is important to understand what exchange netflow represents. Netflow measures the balance of tokens moving onto or off of exchanges. When more LINK flows into exchanges, it typically indicates upcoming sell pressure, as holders position themselves to liquidate. On the other hand, when LINK flows out of exchanges, supply on trading platforms shrinks, reducing immediate selling risk and signalling accumulation by long-term holders.
In Chainlink’s case, the recent data shows a heavy dominance of red netflows, tokens exiting exchanges, especially during the rally from mid-July 2025.
July Outflows Align With Price Rally
Around July 18, 2025, LINK’s price was hovering in the mid-$20 range. At the same time, large spikes of red outflows began to dominate the netflow chart. As the yellow price line indicates, LINK steadily climbed after these withdrawals, eventually surpassing $29.
This correlation is not accidental. When traders move assets off exchanges, they typically do so to hold them in cold storage or staking platforms, indicating confidence that prices will rise further. In this sense, the exodus of LINK from exchanges helped tighten available supply, contributing to the price rally toward $30.
Confidence Builds at $29–$30
The latest data shows another sharp outflow spike just as LINK stabilizes around $29.58. Instead of rushing to deposit LINK back onto exchanges and sell into strength, holders appear content withdrawing and holding. This behaviour suggests that many believe the current rally is not over.
If this pattern continues, it could set the stage for LINK to test higher resistance levels beyond $30. Reduced exchange supply often amplifies price moves, since even modest buying demand can push prices higher when fewer tokens are available for trading.
What Traders Should Watch Next
While outflows support a bullish case, traders should remain cautious. A sudden spike in green inflows, tokens moving onto exchanges, would signal that whales or large holders may be preparing to sell. Such inflows could increase short-term sell pressure and cap further upside.
For now, the dominance of outflows shows that accumulation is outweighing distribution. If sentiment holds, Chainlink may not only break above $30 but also consolidate it as a new psychological support level.
Conclusion: A Bullish Signal in the Making
Chainlink’s surge in outflows is a telling sign of growing investor conviction. With LINK trading just below $30 and supply on exchanges dwindling, the setup favours continued strength. If holders maintain this stance, the next phase of the rally could push LINK well beyond current levels. The market may be whispering one message loud and clear: investors are holding, not selling.
