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.
