Chainlink Unlocks 19M LINK Tokens Worth $262M
Chainlink unlocks 19M LINK tokens, with 14.875M sent to Binance and 4.125M moved to a multisig address.
- Chainlink released 19M LINK tokens worth $262M.
- 14.875M LINK was transferred to Binance.
- 4.125M LINK was moved to a multisig address.
Chainlink, a leading decentralized oracle network, has completed its scheduled quarterly token unlock, releasing 19 million LINK tokens worth approximately $262 million. This unlock occurred five hours ago from two non-circulating supply addresses, significantly impacting the Market’s circulating supply.
Majority of Tokens Sent to Binance
Out of the total unlocked tokens, 14.875 million LINK, valued at around $205 million, were transferred directly to Binance. This substantial movement to the exchange could indicate a potential increase in trading activity, liquidity, or sell pressure on the market.
Remaining Tokens Moved to Multisig Address
The remaining 4.125 million LINK, approximately $57.04 million in value, was moved to a multisig address. While the exact purpose remains unclear, such movements typically indicate reserves for operational needs, ecosystem incentives, or strategic partnerships.
Chainlink’s token unlocks are part of its ongoing supply schedule, which influences market dynamics. Traders and investors will closely monitor price movements following this large release.
