1-10-2025 – Chainlink’s LINK exchange reserves have declined to two-year lows at 159.2 million tokens, down from 195 million in early 2023, signaling reduced liquid supply as the price climbed to $24.5.
The drop of 35.8 million tokens reflects persistent outflows, interrupted by temporary inflows in mid-2023, early 2024, and mid-2024 that coincided with local price peaks around $12–$18, likely due to profit-taking. Analyst Quinten highlighted this pattern as evidence of long-term accumulation off exchanges, creating a bullish supply-demand imbalance.
With over 87.5% of LINK’s circulating supply in profit, the trend supports potential upward momentum if demand holds. Quantum Ascend analysts project price targets of $51, $81, and $130 in successive waves, based on continued reserve compression and market cap growth. This comes as Chainlink sees increased institutional interest, though unconfirmed reports of developments like a potential ETF add context to the rally from $6 levels.
