$LINK Chainlink Shakes the Market: Impact of the 21 Million Token Release

1. New Tokens on the Block: Chainlink just dropped 21 million new tokens into the market. That’s a lot of extra coins!

2. Price Watch: More tokens usually mean lower prices because there’s more supply out there. People are watching to see if prices will dip.

3. Tokens to Binance: A hefty 18.25 million tokens went straight to Binance. Looks like some folks might be planning to sell.

4. Holding Back Some: But not all tokens are hitting the market—2.25 million went into a multi-sig wallet. Those are staying put for now.

5. Price Dip: After the release, LINK’s price ticked down a bit by 1.37%, now at $13.61. That’s the market reacting right there.

6. Busy Network: More tokens moving around means the network is buzzing. This could mean more selling, pushing prices down even more.

7. Key Price Points: Prices might struggle to go above $13.90 or drop below $13.40 because that’s where lots of people have their money parked.

In short, Chainlink’s new token release could shake things up a bit. Prices might wobble as the market figures out what to do with all these extra tokens.