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Chainlink (LINK) Poised for 30% Surge as Exchange Withdrawals Signal Bullish Momentum
Chainlink (LINK) Poised for 30% Surge as Exchange Withdrawals Signal Bullish Momentum
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Chainlink LINK News -
Chainlink's LINK token has jumped 13% in the past 24 hours, hitting $23 and notching a 51.2% weekly gain—outperforming a mostly flat crypto market.
On-chain metrics show a sharp 2 million LINK withdrawal (worth $46 million) from exchanges within 48 hours. Such moves typically indicate reduced sell pressure, as tokens need to be redeposited before trading. Historical data suggests these withdrawals often precede price rallies.
Retail demand remains strong, with wallet counts holding steady despite recent price increases. Shrinking exchange reserves combined with sustained accumulation could trigger a supply crunch. Whales appear to be positioning for upside while retail investors continue buying the dips.
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