đđThis Altcoin Had a Massive Token Unlock! $208 Million Sent to Binance! đđ
According to cryptocurrency on-chain data, Chainlink (LINK) recently had a massive token unlock. The data shows that 18.75 million LINK worth $215 million was released from out-of-circulation supply contracts. 18.12 million of these altcoins worth $208 million were transferred to Binance as soon as they were unlocked.
On the other hand, 625 thousand LINK worth $7.18 million was transferred to the Multisig 0xD50f wallet.
Chainlink has been unlocking tokens every three months since August 2022, unlocking a total of 145.75 million tokens worth $1.5 billion. Of this amount, 126 million tokens worth $1.28 billion were sent directly to Binance, and the transfers were made at an average price of $10.13. At the time of writing, the LINK price is trading at $11.30.
Despite these large token unlocks and investments in centralized cryptocurrency exchanges, it is observed that the LINK price has remained stable and in some cases has increased after these unlocks. In addition, it is known that the developers still have 372.75 million tokens worth $4.27 billion in 24 different cryptocurrency wallets.
My dear friends, do not withhold your free support. I try to bring you such news instantly. My only request from you is that if there is anyone who still does not follow me, I would be glad if they did. Please like my articles and posts. Thank you.
