Binance Dominates LINK Exchange Reserves Amid Decline in Spot ETF Inflows

Binance's dominance over LINK exchange reserves is a significant development in the crypto market. According to on-chain data, Binance holds 85.1 million LINK tokens, valued at approximately $766 million, which accounts for 66.4% of the total supply held by all exchanges.

This concentration of exchange reserves has led to a decline in spot ETF inflows, which reached $8.29 million in May, their weakest monthly figure since launch. Despite this slowdown, spot LINK ETF products have yet to record a single day of net outflows since inception and hold 1.69% of the total circulating supply.

The data suggests that LINK supply is gradually moving toward longer-term custody, with institutional channels driving demand. However, the trend is worth monitoring as market appetite for altcoin ETF products continues to be tested.