Chainlink (LINK) Just Had a Massive $341 Million Token Unlock: Here are the Details

Chainlink (LINK) Just Had a Massive $341 Million Token Unlock: Here are the Details

Chainlink (LINK) unlocked 19 million LINK tokens, equivalent to $341 million, from three uncirculated supply contracts.

The transaction took place about two hours ago and the majority of the unlocked altcoins were deposited to Binance.

Of the 19 million LINK tokens unlocked, 15.95 million LINK ($287 million) was deposited to the cryptocurrency exchange Binance, the remaining 3.05 million LINK ($54.3 million) was moved to a multisig wallet with address 0xD50f.

Chainlink has unlocked a total of 106 million LINK tokens since August 2022. Of these, 88.95 million LINK moved to Binance at an average price of $9.06, making the total figure approximately $805 million.

Currently, there are 412.5 million LINK tokens in those 24 contracts, worth approximately $7.35 billion.

Over the past week LINK has increased by approximately 25%. However, despite having reacted well before, the price of the altcoin seems to have dropped slightly during the last two unlocks. The price of the altcoin, which climbed up to $18.8 in the last 24 hours, is traded at $17.89 at the time of writing this article.

*This is not investment advice.

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