Anticipated Altcoin Token Unlocking Hits Huge Token Unlock, Tokens Go Into Circulation – Here’s the Initial Price Reaction

Chainlink (LINK), one of the world’s largest altcoins, has left behind a massive previously planned token unlock.

In recent hours, the Chainlink development team has added 19 million LINK, or approximately $269 million worth of assets, to circulation in the token unlocking operation it regularly carries out every quarter.

According to the data, he transferred 14.875 million LINK, worth $212.9 million, to Binance.

On the other hand, the remaining 4.125 million LINK, or $56.2 million, was transferred to a multisig wallet with the short address 0xD50.

According to the data, the Chainlink development team has unlocked a total of 176 million LINK since August 2022. This amount corresponds to $ 2 billion at the time, and currently it is equivalent to $ 2.43 billion. 151.3 million of these unlocked tokens were transferred to Binance for an average of $ 11.41.

The Chainlink development team currently holds 342.5 million LINK worth $4.7 billion locked in uncirculated supply contracts.

Following today’s token unlock, the LINK price reacted with a loss of approximately 5%.

Chart showing the decline in LINK price.

*This is not investment advice.

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