Chainlink Whales Flock to Binance Ahead of Banking Initiative

A significant movement of Chainlink (LINK) tokens to Binance has been detected just days before the project's major banking initiative, Project Pangea. On June 19, Binance saw a net inflow of more than 10.2 million LINK, pushing its total reserves from 84.1 million to 94.3 million tokens in a single day.

This sudden movement caused a surge in the seven-day average netflow by 20,677% compared to its three-month average, according to CryptoQuant. The large transfer occurred just before Chainlink unveiled Project Pangea on June 23, which involves more than 80 banks from Europe and South Korea and represents over $10 trillion in assets under management.

The transfers were found to be highly concentrated among a small group of large holders, with the 'inflow_top10' metric nearly equal to the total inflow volume. This suggests that most of the tokens came from a handful of wallets rather than broader retail participation.