Notice: Chainlink unlocks tokens on a large scale, may face volatility risks

According to the latest monitoring report of Spot On Chain, the Chainlink project recently unlocked a large number of LINK tokens from its non-circulating supply contract, totaling 21 million, worth $295 million. Such a large-scale token unlocking may have a significant impact on the market price of Chainlink

The report shows that 18.25 million LINK (worth $264 million) have been transferred to the well-known trading platform Binance, while another 2.25 million LINK (worth $31.3 million) have been transferred to a multi-signature wallet address starting with 0xD50f. These large transfers may mean that the market is about to usher in a wave of large selling pressure, which will have an impact on the price of LINK.

Since August 2022, Chainlink has unlocked a total of 127 million LINK and sent 107.7 million LINK to Binance at a price of $9.89. This series of large-scale unlocking and transfer behaviors has undoubtedly increased market uncertainty.

Currently, there are still 391.5 million LINK (worth $5.4 billion) remaining in 24 contracts, and the unlocking and circulation of these tokens in the future may also have an impact on the market.