\t\t\t\t\t\t\t\t![](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/IMG_20221216_232515-scaled-e1687171787353-80x80.jpg\")
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\t\t\t\t\t\t\t\tPosted: September 23, 2023 \t\t\t\t\t\t Chainlink [LINK]<\/a> has recently experienced significant activity and developments within its ecosystem and token. One noteworthy occurrence involved the emergence of new addresses on the platform, with users both depositing and withdrawing LINK tokens from exchanges.<\/span><\/p>\n Read Chainlink\u2019s [LINK] Price Prediction<\/a> 2023-24<\/p>\n A 22 September report by Lookonchain has highlighted a notable surge in new Chainlink<\/a> addresses of late. The data indicated that the number of these fresh addresses had increased to 81 as of this writing.\u00a0<\/span><\/p>\n There are a total of 81 fresh wallets created on Sept 15 started withdrawing $LINK<\/a> from #Binance<\/a> on Sept 18.<\/p>\n And these wallets have withdrawn a total of 4.7M $LINK<\/a> ($31.58M) from #Binance<\/a> so far.<\/p>\n Details: https:\/\/t.co\/hSdkoncNgZ<\/a>https:\/\/t.co\/AzUM8VleQQ<\/a> pic.twitter.com\/4IxdSHtv6C<\/a><\/p>\n \u2014 Lookonchain (@lookonchain) September 22, 2023<\/a><\/p>\n<\/blockquote>\n These addresses have collectively withdrawn more than 4.7 million LINK tokens from Binance [BNB]<\/a>, equivalent to over $31.5 million. This recent uptick in LINK withdrawals marked a significant increase compared to what was reported earlier this week. <\/span><\/p>\n During that period, approximately 35 wallets were created, and roughly $5 million worth of LINK tokens were withdrawn from Binance.<\/span><\/p>\n The CryptoQuant exchange flow metric indicated that the recent withdrawals have indeed impacted the flow of Chainlink<\/a>. The chart illustrated a noticeable increase in outflows over the past few days since these withdrawals commenced. <\/span><\/p>\n At the time of this report, the exchange flow was recorded at approximately -247,900, signifying a net negative flow.\u00a0<\/span><\/p>\n Source: CryptoQuant<\/p>\n<\/div>\n Additionally, the continuous outflow of these tokens from the exchange has resulted in a liquidity decline of LINK. <\/span><\/p>\n This reduction in liquidity could potentially trigger scarcity concerns and raise FUD (Fear, Uncertainty, Doubt) in the market, potentially contributing to an increase in LINK\u2019s price.<\/span><\/p>\n According to Santiment\u2019s supply distribution chart, there have been notable changes in Chainlink<\/a> holdings of various address categories in the past few weeks. <\/span><\/p>\n Addresses with holdings ranging from 1,000 to 10,000 coins and 100,000 to 1 million coins have shown consistent increases during this period.\u00a0<\/span><\/p>\n Source: Santiment<\/p>\n<\/div>\n However, the most significant change has been observed in addresses holding 10,000 to 100,000 coins. The chart indicates a substantial spike in this category, particularly around 17 September. <\/span><\/p>\n As of this writing, this group has surged from approximately 7.8% to over 8% of the total supply.<\/span><\/p>\n The recent price trend of Chainlink<\/a> has been intriguing to follow, with more upward movements than declines over the past 12 days, as observed on its daily timeframe chart.<\/span><\/p>\n
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\nChainlink sees more new addresses<\/b><\/h4>\n
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Exchange flow reflects Chainlink\u2019s outflow<\/b><\/h4>\n
![\"Chainlink](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Chainlink-Exchange-Netflow-Total-All-Exchanges-1.png\")
<\/a><\/p>\nSupply distribution shows an accumulation trend<\/b><\/h4>\n
![\"Chainlink](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/ChainLink-on-Ethereum-LINK-08.20.31-23-Sep-2023.png\")
<\/a><\/p>\nLINK-up<\/b><\/h4>\n
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![\"LINK\/USDT](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/LINKUSDT_2023-09-23_08-00-52.png\")