Chainlink (LINK) has lost 20.8% since the start of October, despite a drop in reserves on crypto platforms. Binance records 18 consecutive days of net outflows from the token, while reserves tracked by CryptoQuant have fallen to 124.2 million LINK. Usually considered favorable for an increase, this movement does not produce any lasting rebound. US Chainlink ETFs are also showing signs of slowing down.
In brief
- Chainlink fell 20.8% in October despite 18 days of net withdrawals on Binance.
- LINK reserves on exchanges decrease to 124.2 million tokens.
- US Chainlink ETFs record eight consecutive sessions without net flows.
Chainlink loses 21% despite crypto withdrawals on Binance
On-chain data shows an unusual situation. Over the past 18 days, more LINK has been leaving Binance than arriving. Investors often interpret these withdrawals as a sign of accumulation, especially when tokens are transferred to private wallets.
The decline in reserves is not new. In August 2025, 33 million LINK had already left exchange reserves, which had increased from 180 to 147 million tokens.
This time, the figures are not accompanied by an increase. According to CryptoRank, the Chainlink crypto has lost 20.8% since the start of the month. During a reading taken on October 29 around 11:40 UTC, LINK was trading around $11.58 on Binance, after a low of $11.29 over the last 24 hours.
Analyst MorenoDV_, however, calls for caution. Prior to this round of withdrawals, Binance had seen a net inflow of approximately 8.7 million LINK. Part of the following outflows could therefore correspond to a redistribution of these tokens to other wallets.
In other words, the transfers do not prove that new investors are accumulating LINK. The aggregate reserves tracked by CryptoQuant returned to 124.2 million tokens, a level close to that seen before the large inflows on Binance. The market still lacks buyers capable of sustainably reversing the decline.
Link ETFs lose $40 million in net assets
American investment products do not compensate for this weakness. According to SoSoValue, Chainlink spot ETFs have recorded eight consecutive sessions with no net inflows or outflows. Their last move was on October 16, with a withdrawal of around $397,000.
On October 9, these funds had attracted $9.48 million in a single session. Since then, the flows have stopped. Their cumulative net assets increased from $249.4 million on September 28 to $209.5 million on October 28. This represents a decrease of $39.9 million, or approximately 16%.
Be careful not to confuse the two indicators. This drop in valuation does not mean that investors took out $39.9 million. The fall of LINK also reduces the value of tokens already held by the funds.
This distinction had already been noted regarding Grayscale’s Chainlink ETF, whose assets had decreased with the decline in LINK. The October situation presents an additional difficulty: the funds no longer record new net inflows. Even when the reserves available on exchanges decrease, the price can continue to fall if demand remains insufficient.
Chainlink advances not yet supporting price
However, the crypto project continues its technological development. On September 28, Chainlink launched CCIP 2.0, a new version of its blockchain interoperability protocol. In particular, it provides additional verification mechanisms, compliance checks and more flexibility in the execution of transfers.
Another recent announcement: October 27, Further Asset Managementan Abu Dhabi-based company, announced the adoption of the Chainlink ACE compliance engine for its Anubis platform. The tool must make it possible to verify certain regulatory conditions before executing transactions involving tokenized assets. Its initial deployment concerns the Abu Dhabi Global Market.
This partnership is an announced commercial advance, without proof yet of a direct effect on demand for LINK. Chainlink, however, had several catalysts at the start of the month. The project was also among the five cryptos to follow in October 2026, in particular thanks to CCIP 2.0 and its ambitions in tokenized finance.
In the market, analysts are now monitoring resistance at $12.30 and support at $10.87. Another area of interest is between $9.50 and $10.50. These are technical levels offered by analysts, not guaranteed prices.
For Chainlink, withdrawals on Binance are data to monitor, not proof of reversal. The next sessions will allow us to see if buyers are really coming back, both on the spot market and in ETFs.
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