295 Million Dollars Unlocking in Demirbaş Altcoin: They Are Sending It to the Stock Exchanges!
Chainlink (LINK), the well-established altcoin of the cryptocurrency market, hosted a lock opening worth $295 million.
According to data cited by on-chain analysis platform Spot On Chain, 21 million LINK worth $295 million were unlocked from Chainlink's uncirculated supply contracts on June 22. 18.25 million LINK worth $264 million were transferred directly to the cryptocurrency exchange Binance.
2.25 million LINK worth $31.3 million was transferred to the multisig wallet.
Ongoing since August 2022
Chainlink has unlocked 127 million LINK since August 2022, of which it sent 107.7 million LINK to Binance at $9.89. After the unlocks, 391.5 million LINK worth $5.4 billion remained in 24 contracts.
Lock openings have not affected the LINK price badly so far, in fact the price has even increased after many lock openings.
According to CoinGecko data, LINK, which has lost 4% in value in the last 24 hours, is traded at $ 13.77 at the time of writing.