CandleFocus Chainlink Unlocks 11.25 Million LINK Tokens, Potential Price Impact
2024-12-22
Author: Content Editor
Crypto project Chainlink has unlocked an additional 11.25 million LINK tokens, worth approximately $258 million. The majority of these tokens were sent to the Binance exchange, while a smaller portion went to a multi-sig wallet. Since August 2022, Chainlink has unlocked a total of 157 million LINK tokens, with 136.5 million deposited directly to Binance. The influx of new tokens into the market has raised concerns about a potential price decline, and LINK's value has already dropped 20.6% in the last week. However, recent activity by large investors, including a purchase of $2 million worth of LINK tokens by a project associated with former US President Donald Trump, suggests growing confidence in the token's long-term potential.
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