Chainlink Loses 21% in October Even as Tokens Keep Leaving Exchanges

Chainlink’s LINK token lost 20.8% in October even as its balance on Binance fell for 18 consecutive days. Analyst MorenoDV said the withdrawals may partly reflect redistribution of roughly 8.7 million LINK that had earlier entered Binance on a net basis, cautioning they do not prove buying. Across exchanges, LINK reserves fell to 124.2 million, near their level before that deposit. US spot Chainlink ETFs have recorded no net flows for eight consecutive trading days, with their last move an outflow of about $397,000 on October 16; total net assets fell to $209.5 million on October 28 from $249.4 million on September 28.