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Chainlink price drops 21% despite large token withdrawals from Binance, signaling weak demand.

Technical Signals
29 Oct 2026, 15:18 WIB
Cointribune
View Source
Bearish
Chainlink price drops 21% despite large token withdrawals from Binance, signaling weak demand.

Chainlink (LINK) has fallen 20.8% since early October even though Binance has seen 18 consecutive days of net LINK withdrawals, which usually suggests accumulation. However, the decrease in LINK reserves on exchanges to 124.2 million tokens has not led to a price rebound, indicating weak buyer interest. US Chainlink ETFs also show no new inflows, with net assets dropping nearly 16% due to price decline rather than withdrawals. Despite recent technological upgrades and partnerships, Chainlink's price remains under pressure as the market awaits stronger buying support.

As of Oct 29, 2026 19:31 WIB, Chainlink (LINK) trades at Rp211.423 on Pluang, showing a slight 0.42% decline over the past day. The market cap stands at Rp157,15 trillion with a 24-hour trading volume of Rp5,63 trillion. Despite the recent price drop noted in the article, Pluang data reveals a 65% sell order activity, highlighting ongoing selling pressure among investors.

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