Chainlink (LINK) Withdrawals Reach $116.7M as 30 New Wallets Move LINK Out of Binance Following Oct 11 Market Crash

COINOTAG News, citing LookIntoChain monitoring on October 20, reports that since the October 11 market crash, 30 new wallets have collectively withdrawn 6,256,893 LINK from Binance, equating to roughly $116.7 million in aggregate value. The on-chain movement suggests a targeted exodus from the exchange rather than widespread retail liquidations as market conditions evolved during the post-crash period.

At roughly 208,563 LINK per wallet on average, these transfers represent a material shift in liquidity flows and warrant continued on-chain surveillance. The development underscores heightened risk management considerations for traders and exchange counterparties as the crypto ecosystem reassesses exposure to LINK liquidity and exchange balance sheet dynamics amid recent volatility.