Although the broad crypto market is experiencing a sharp slowdown in its recent rally, Chainlink has remained in demand among both retail and institutional investors.
It appears that the market volatility has given traders the opportunity to purchase the asset at cheaper prices; hence, they have significantly bought its dip in the previous day.
Chainlink sees massive withdrawals
Renowned crypto analytics platform Santiment has recently shared data revealing that Chainlink has achieved the highest single-day withdrawal since December 2nd, 2025.
Notably, a total of 970,430 LINK were recorded in its daily net exchange outflow as of April 27, 2026. Per LINK's average trading price at the time of the transaction, the total withdrawal it experienced that day was worth about $8.95 million.
It is important to note that withdrawals from known exchanges are a strong indicator of major buying activities, suggesting that the demand for the concerned cryptocurrency is on the rise.
With such a massive withdrawal seen in a single day despite the weak price action, the trend tends to reduce LINK's available supply on exchanges including Binance.
But if demand persists, the continuous reduction of its available supply poses great support for a stable price movement which could further fuel more price upsurge for Chainlink.
LINK drops to $9.23
Despite the massive withdrawals and growing investor demand seen in the previous day, Chainlink has continued to trade in the red territory, showing a moderate price decline since the new week began.
Apparently, momentum has cooled after the latest price rally seen a few days ago, and LINK's price action has continued to show signs of short-term weakness.
The asset is currently showing a modest decrease of 0.98% over the last 24 hours, hence trading at $9.23 as of writing time, suggesting that current volatility may only be a short-term fluctuation.
Dan Burgin
U.Today Editorial Team
