This Altcoin Had a Massive Token Unlock – 208 Million Dollars Sent to Binance

According to cryptocurrency onchain data, Chainlink (LINK) recently carried out a massive token unlock.

Data shows that 18.75 million LINK worth $215 million was opened from Chainlink out-of-circulation supply contracts.

18.12 million units of the altcoins in question, worth $208 million, were sent to Binance as soon as the tokens were unlocked.

On the other hand, 625 thousand units worth $ 7.18 million were transferred to the Multisig 0xD50f wallet.

On the other hand, Chainlink has unlocked a total of 145.75 million tokens worth $1.5 billion with the token unlocks it has made every three months since August 2022. Of these, 126 million tokens worth $1.28 billion were sent directly to Binance. The transfers were made at an average price of $10.13.

At the time of writing, LINK is trading at $11.30.

Despite these massive token unlocks and centralized cryptocurrency exchange deposits, the LINK price appears stable and even rises from time to time after these token unlocks.

However, developers still have 372.75 million tokens worth $4.27 billion in 24 different cryptocurrency wallets.

*This is not investment advice.