Over $120 Million Chainlink Exit Exchanges, What Is Happening?

Monicah W

Over $120 Million Chainlink Exit Exchanges, What Is Happening?

Decentralized blockchain oracle network Chainlink (LINK) is again in the spotlight amid price discovery. According to reports, large amounts of LINK have exited crypto exchanges over the past month. The movement totals over $120 million and draws attention from analysts, traders, and the wider crypto community. 

LINK Exchange Outflows Raise Eyebrows

According to blockchain analytics platform IntoTheBlock on X, Chainlink has seen over $120 million of LINK withdrawn from exchanges over the last 30 days. The data, backed by charts, points to a clear trend: more LINK now leaves trading platforms than is entering.

It is worth noting that this type of market behavior is often recognized as a sign that holders are moving their assets to cold wallets or private storage. Based on historical trends, it also means that investors plan to hold for the long term, rather than selling in the short term. A lower LINK supply on exchanges can also set the stage for a potential price increase, especially if demand matches up.

While this exchange trend shows positive accumulation, LINK whale selloffs are also not uncommon in the industry. A mix of exchange withdrawals and selloffs helps the oracle maintain the needed liquidity balance.

Chainlink Price Amid Bitcoin-Led Rally

As Bitcoin leads the broader market, LINK is also riding the bullish trend. Chainlink price recently surpassed the $12.50 support threshold, which has shaped its price momentum in the short term.

Earlier this year, renowned crypto analyst CRYPTOWZRD pointed out that this price point has demonstrated fundamental resistance during previous periods.

Still, another market analysis suggests that Chainlink could reach $26 by the end of the year. 

However, these numbers are based heavily on Bitcoin’s performance. If Bitcoin sees another major price milestone, Chainlink may feel the ripple effect. Historically, when Bitcoin rallies, altcoins often follow the trend. 

Meanwhile, any market weakness could also slow LINK’s momentum. For now, CoinMarketCap data pegs the price of Chainlink at $13.87, up by 3.42%, with a market capitalization of $13.81 billion.

Ecosystem Is Growing Behind the Scene

While the LINK price and exchange flows gain attention, Chainlink’s broader ecosystem expands.

On April 21, 2025, the Digital Chamber announced that Chainlink Labs has joined its Executive Committee. This move places the project closer to regulatory discussions and helps shape blockchain policy development.

The next day, Monad revealed that Chainlink tools will be available on its mainnet from launch. This includes Chainlink’s data feeds and cross-chain technology. In addition, Chainlink is now working with major players such as Swift, DTCC, and Fidelity. 

These partnerships and their integration with platforms like Aave and Lido show that Chainlink is building more than just price momentum. Another notable development is Chainlink’s push for tokenized real-world assets (RWAs).

Earlier in March, Chainlinked partnered with ADGM, the Abu Dhabi Global Market, to advance tokenization. These ecosystem trends can boost the price of LINK.

The post Over $120 Million Chainlink Exit Exchanges, What Is Happening? appeared first on CoinGape.

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Berachain (BERA) 30% Drop Triggers Short-Seller Frenzy: More Losses Ahead?

Berachain (BERA) has suffered a steep decline over the past week, shedding 30% of its value as bearish sentiment plagues the general market. 

In the past 24 hours alone, the token has slid another 6%, deepening concerns of further downside. With growing bearish bias against the altcoin, this might be the case in the near term. 

BERA Faces Mounting Downside Risk

Berachain’s sharp decline has triggered a surge in short positions across its futures market. This rise in demand for shorts is evident in its funding rate, which has been negative since the token’s launch on February 6. At press time, this is at -0.11%.

BERA Funding Rate.
BERA Funding Rate. Source: Coinglass

The funding rate is a periodic fee exchanged between long and short traders in perpetual futures contracts to keep prices aligned with the spot market.

A negative funding rate means that short traders are paying long traders, indicating a stronger demand for short positions. 

As with BERA, if an asset experiences an extended period of negative funding rates, it suggests sustained bearish sentiment. It indicates that the token’s traders consistently bet on further price declines. This prolonged negativity could increase BERA’s price volatility and extend its price fall. 

In addition, BERA has noted significant fund outflows from its spot markets over the past few days. Per Coinglass, the altcoin has noted almost $2 million in spot market outflows today alone.

BERA Spot Inflow/Outflow.
BERA Spot Inflow/Outflow. Source: Coinglass

When an asset experiences spot outflows like this, it signals a surge in selling pressure. It indicates a bearish trend as investors reduce exposure or take profits, potentially leading to further price declines.

BERA at a Crossroads—Break Below $6.07 or Rally Toward $7.36?

Berachain trades at $6.14 at press time, resting slightly above support at $6.07. If the bearish bias against the altcoin strengthens, its price could break below this support floor, causing the token to trade at a low of $5.35.

If the bulls fail to defend this level, BERA could slip to its all-time low of $4.74.

BERA Price Analysis.
BERA Price Analysis. Source: TradingView

On the other hand, if market sentiment improves and BERA’s demand soars, its price could rally to $7.36.

The post Berachain (BERA) 30% Drop Triggers Short-Seller Frenzy: More Losses Ahead? appeared first on BeInCrypto.

Shiba Inu Community Burns 284M Tokens In 24 Hours, What’s Happening?

The Shiba Inu community is once again mirroring optimism amid a massive 3,800% burn rate recorded on Thursday. On-chain metrics have revealed that 284 million SHIB got destroyed in the last 24 hours, suggesting a bullish outlook for long-term price prospects. SHIB price is currently trading around the $0.000013 price level, with the crypto holding support at $0.000012.

Shiba Inu Burn Rate Soars 3900% As 284M Coins Destroyed

According to the official tracker Shibburn’s data on May 1, the Shiba Inu burn rate sky shot by a whopping 38299% in just 24 hours. As per the data, this massive surge came against the backdrop of 283.74 million tokens ditched from the supply intraday.

SHIB Burn Data
Source: Shibburn official site

Primarily, the wallet address 0x6081258689a75d2…887239fe was reported to be responsible for the lion’s share in the burn upswing as it solely burnt 263.70 million SHIB over the past day. In the upshot, broader market sentiments about such massive burns remain bullish, given the law of supply and demand.

It’s notable that the SHIB burn mechanism permanently reduces the supply by sending tokens to a null address, making their retrieval impossible. In turn, the meme coin’s supply takes a severe hit, and long-term price prospects also reflect optimism.

SHIB Price Still Waning

However, despite the massive burn rate surge, SHIB coin’s price has prevented any major gains and continued its consolidation today2. At the time of reporting, the meme coin rested at $0.00001331, maintaining a trading session around the previous day’s levels.

Notably, the short-term impact of such massive burns is usually negligible, although historical data shows that it is bullish for long-term prospects. A total of 410.73 trillion tokens have been burnt to date, thanks to the Shiba Inu burn mechanism. Besides, 584.41 tokens are still left in circulation, per the tracker’s data.

A SHIB price prediction by CoinGape in the interim revealed that the meme coin eyes a price rally shortly ahead. This bullish projection rides the back of strong technicals and bullish on-chain metrics. Notably, the dog-themed crypto is currently in an accumulation zone and the next key level to watch is $0.00001364. Overall, broader market sentiments orbiting the meme coin remain bullish amid rising Shiba Inu burn rates and other bullish dynamics.

The post Shiba Inu Community Burns 284M Tokens In 24 Hours, What’s Happening? appeared first on CoinGape.

Bitcoin ETFs Record Four Weeks of Net Outflows Surpassing $4.5 Billion

Bitcoin ETFs (exchange-traded funds) recorded significant net outflows this week, with institutional investors pulling out nearly $800 million amid market uncertainties.

Despite high expectations for the White House Crypto Summit, Bitcoin ETFs saw their fourth consecutive week of outflows, suggesting that institutional sentiment remains cautious. Over $4.5 billion in net assets have exited the market in the past four weeks.

Bitcoin and Ethereum ETFs Experience Heavy Outflows

Data on SoSoValue shows US Bitcoin ETFs faced total net outflows of $799.39 million this week after five consecutive days of negative flows.

The largest single-day outflow of the week occurred on Friday, with $409 million withdrawn from Bitcoin ETFs.

Bitcoin ETF Outflows This Week
Bitcoin ETF Outflows This Week. Source: SoSoValue

Data on Farside Investors corroborates the outlook. It shows that the largest contributors to Friday’s landmark outflows were Ark Invests’ ARKB and Fidelity’s FBTC ETF instruments. They posted $160 million and $154.9 million in negative flows, respectively.

BlackRock’s IBIT and Grayscale’s GBTC followed with $39.9 million and $36.5 million. Meanwhile, the other issuers, save for Bitwise (BITB), recorded zero flows.

Ethereum ETFs also continued their negative trend, logging a second consecutive week of net outflows.

ethereum etf net outflow
Ethereum ETFs Weekly Net Outflow. Source: SoSoValue

These negative flows come despite anticipation that this would be a bullish week amid White House Crypto Summit hype. The outflows suggest that macroeconomic concerns and strategic market positioning have overshadowed the event’s impact.

Some analysts point to persistent fears over President Trump’s trade tariffs and broader economic instability. These, they say, sour institutional confidence. Specifically, industry experts have highlighted structural shifts in the market as a possible explanation for the ongoing capital flight.

Kyle Chasse recently explained that hedge funds have been exploiting a low-risk arbitrage trade between Bitcoin spot ETFs and CME futures. However, as these trades collapse, liquidity is withdrawn from the market, influencing sell-offs and outflows from crypto investment products.

QCP Capital Explains Crypto Market Reaction

Meanwhile, a recent report from QCP Capital provided additional insight into the market reaction. The firm noted that while the White House Crypto Summit was initially expected to be a key bullish catalyst, President Donald Trump preempted expectations by signing an executive order establishing the Strategic Bitcoin Reserve and US Digital Asset Stockpile.

Upon the signing, Bitcoin’s price dropped sharply from $90,000 to $85,000 in what analysts called a “sell the news” event. Market participants positioned for a bullish outcome at the summit were caught off guard, leading to a sharp sell-off.

“The knee-jerk reaction lower likely stems from the realization that no actual budget has been allocated for BTC purchases in the near term,” read an excerpt in the QCP report.

This explains Friday’s climax of the week’s Bitcoin ETF outflows. Overall, it’s evident that macroeconomic factors are driving fears among institutional investors, at least for the short term.

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