Another significant token unlock has happened in this altcoin, based on Onchain data. Here are the details.
Cryptocurrency onchain data indicates that Chainlink (LINK) just completed a significant token unlock.
According to data, 18.75 million LINK, valued at $215 million, were opened through supply contracts for Chainlink out-of-circulation.
Upon token unlocking, 18.12 million units of the aforementioned altcoins, valued at $208 million, were transferred to Binance.
However, 625,000 units totaling $7.18 million were moved to the Multisig 0xD50f wallet.
Conversely, since August 2022, Chainlink has unlocked 145.75 million tokens total, valued at $1.5 billion. It has done so every three months. 126 million of these, valued at $1.28 billion, were transferred straight to Binance. The average cost of the transfers was $10.13.
LINK’s current trading price is $11.30 as of this writing.
The LINK price seems steady and occasionally even rises after these large-scale token unlocks and centralized cryptocurrency exchange deposits.
Developers still possess 372.75 million tokens, valued at $4.27 billion, spread across 24 distinct cryptocurrency wallets.
*This is not investment advice.