Overview
- Santiment recorded 6,182 new LINK wallets over Thursday and Friday, the two strongest back‑to‑back network‑growth days of 2026 and a signal that fresh participants entered at depressed prices.
- The Chainlink Reserve added 593,088 LINK in June, taking its total to 4,504,167 LINK, and Spot ETF flows moved from a $490,000 outflow to a $138,000 inflow, both of which add steady buy‑side pressure.
- Exchange supply metrics show a net‑negative pattern with a recent −70.2K reading, meaning more LINK is leaving exchanges and reducing coins available for immediate sale.
- Price remains weak near the $7.20 support and below the 50‑, 100‑ and 200‑day moving averages after a large deleveraging event on June 25 that liquidated over 1 million leveraged long LINK on Binance.
- The market’s next move depends on whether the new wallets convert into active users and rising volume to clear resistance near $8.40–$9.00 or whether dormant positioning lets the prevailing downtrend keep prices capped.