Chainlink's Fourth Quarter Major Unlock! $258 Million LINK Floods the Market, Will the Price Remain Steady?

On December 21, according to the latest monitoring data, Chainlink completed the token unlock for the fourth quarter of 2023, with a total of 11.25 million LINK (approximately $258 million) transferred from three non-circulating supply addresses. Among them:

10.625 million LINK (approximately $244 million) was directly transferred to Binance exchange; 625,000 LINK (approximately $14.32 million) **was transferred to the multi-signature address for staking rewards distribution.

Looking back at history, since 2022, Chainlink has cumulatively transferred approximately 14.5 million LINK to Binance through quarterly unlocks, with a total value of up to $1.548 billion, and the average transfer price of these tokens was $10.7.

Here comes the highlight!

Despite the astonishing scale of the unlock, previous large-scale unlocks have not caused a significant impact on the LINK price, showing that the market has strong absorption capacity. Is this backed by strong capital support or an adjustment of market expectations? It is worth pondering.

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