Chainlink (LINK) saw a net exchange outflow of 1.26 million tokens in 24 hours, the largest since June 29, reducing sell-off risk, per Santiment. Bullish signals include DTCC tokenized trades, CCIP expansion, and increased whale activity. Trader ‘The Boss’ says LINK needs confirmation above $11.62. Adoption grows as Kraken, Solv Protocol, and BitGo integrate CCIP.
Chainlink (LINK) recorded a net exchange outflow of 1.26 million tokens over 24 hours, the largest daily outflow since June 29. According to Santiment, the drop in exchange supply reduces sell-off risk.
The timing aligns with developments like DTCC tokenized trades using Chainlink and CCIP expansion to networks including Canton and Robinhood Chain. Santiment believes these could be positive for patient LINK bulls.
The asset started July near $7.85, dipped to $7.6, then rallied to $8.86 before pulling back to $8.2. Whale activity has picked up, reflecting stronger confidence, and Chainlink ranked second in Santiment’s RWA development ranking behind Hedera.
Pseudonymous watcher ‘The Boss‘ said LINK is testing a downtrend breakout, holding a long-term demand zone while challenging a descending trendline. The structure has strengthened, but confirmation is still needed, and a break above $11.62 could mark its greatest technical recovery.
Adoption is growing: Kraken’s kBTC, Solv Protocol’s SolvBTC and xSolvBTC, and BitGo announced moving to CCIP. This follows the $292 million KelpDAO bridge exploit that prompted projects to shift away from LayerZero.
