Chainlink Unlocks $295 Million in $LINK Tokens, Transfers $264 Million to Binance
This approach is part of Chainlink’s broader effort to support the ecosystem and enhance the utility of LINK tokens.
- Chainlink unlocks 21M LINK tokens, transferring $264M to Binance.
- 127M LINK unlocked since August 2022; 391.5M LINK remaining.
- The strategic token release enhances Chainlink’s ecosystem and liquidity.
Chainlink has unlocked 21 million LINK tokens, valued at $295 million, from its non-circulating supply. This is a part of Chainlink’s ongoing approach to manage the distribution of its tokens, which has seen 127 million LINK tokens unlocked since August 2022. The recent transfer includes 18.25 million LINK tokens, worth $264 million, sent to the Binance exchange. This huge transaction highlights the rising liquidity and activity surrounding Chainlink’s LINK token.
According to a recent X post by BecauseBitcoin.com, the details of these transactions are noteworthy. The post emphasizes the scale of the unlocked tokens and their subsequent transfer to Binance. The remaining supply now stands at 391.5 million LINK tokens, valued at $5.4 billion, distributed across 24 different contracts.
Meanwhile, AMB Crypto has published several articles in the past two weeks calling for a breakout to the upside for link during this month. The chart included below indicated 3 double-bottom formations, as well as the notorious “death cross.”
