Chainlink (LINK) Token Unlock

Chainlink (LINK), one of the world’s largest altcoins, has completed a significant planned token unlock.

In recent hours, the Chainlink development team added 19 million LINK, approximately $269 million, to circulation as part of a routine quarterly operation.

Token Distribution

• 14.875 million LINK (worth $212.9 million) was transferred to Binance.
• 4.125 million LINK (worth $56.2 million) was transferred to a multisig wallet with the address 0xD50.

Since August 2022, the Chainlink team has unlocked a total of 176 million LINK, valued at $2 billion at the time, now approximately $2.43 billion. Out of this, 151.3 million tokens were sent to Binance at an average price of $11.41.

Currently, the Chainlink development team holds 342.5 million LINK, worth about $4.7 billion in uncirculated supply contracts.

Market Reaction

Following today’s token unlock, the LINK price dropped by about 5%.

This is not investment advice.