Chainlink Sends A Rare Signal As 66% Of Exchange Supply Sits On Binance

Chainlink is struggling below $10 as selling pressure and broader market uncertainty keep the price pinned beneath a resistance level that has capped every recovery attempt in recent weeks. The price action is frustrating — but data from analyst MorenoDV has identified a structural development in the exchange flow data that reframes what the current weakness is actually occurring against.

Binance currently custodies approximately 85.1 million LINK worth roughly $766 million — representing 66.4% of the 128.26 million LINK held across all exchanges combined. That concentration is the first structural fact that changes how any Binance-specific LINK flow data should be interpreted. When two-thirds of all exchange-held LINK sits on a single venue, extreme netflow days on that venue are not reflecting broad market behavior. They are Binance-specific imbalances that effectively set the supply tone for the entire LINK market.

The reserve chart that MorenoDV examines tells a clean and