LINK reserves surpass 1.41 million tokens, open futures positions increase by 8.61%, and signs of market liquidity divergence emerge.

【Crypto World】Chainlink’s reserve treasury has recently absorbed another 94,267 LINK tokens, bringing the total holdings to over 1.41 million. This move is essentially a form of bleeding—drastically reducing the circulating supply. However, while the supply is decreasing, market enthusiasm on the other side is cooling down. Spot inflows have plummeted from $3.22 million to $480,000, with retail participation noticeably declining.

Interestingly, LINK futures are actually heating up. Open interest has surged by 8.61%, reaching $607.9 million. In other words, both longs and shorts are increasing leverage bets in the futures market. The liquidation heatmap shows dense downward liquidity accumulation, indicating that the market could experience short-term turbulence at any time. Before the price moves, internal market tension has already been building up.