Ali observed that Chainlink experienced a huge spike in on-chain activity on Sept. 15, with nearly 52.3 million LINK worth over $326 million transferred to crypto exchange wallets. One of the likely reasons tokens are often moved to exchanges is to be sold.
LINK sharply recovered, printing a big green daily candlestick and hitting an intraday high of $6.82 in today's session.Markets rose on Monday as focus switched to the Federal Reserve meeting this week, which could provide an indication as to what will happen to interest rates in the coming months. The Fed is likely to announce its policy decision on Wednesday at 2:00 p.m. ET, along with a statement and comprehensive projection update in the Summary of Economic Projections, which will include a fresh"dot plot" of interest-rate predictions. Thirty minutes later, Fed Chair Jerome Powell will hold a press conference.In addition to the current interest rate decision, investors will be seeking guidance from the central bank on the future of monetary policy.