CandleFocus Chainlink Transfers $207M to Binance Amid 2.64% Price Dip in 24 Hours
2024-09-21
Author: Content Editor
Chainlink has unlocked and transferred 18.75 million LINK tokens from five non-circulating supply addresses. The majority of these tokens, valued at $207 million, were sent to Binance, while a smaller portion went to a multi-signature address for distributing staking rewards. This is part of Chainlink's quarterly token unlocking process, where around 20 million LINK are released every three months. Despite the large transfer, the token's price only fell by 2.64% and has remained stable overall. Similar transfers in the past have had minimal impact on the market.
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