Altcoins News
By Evie Vavasseur
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Chainlink (LINK), a leading blockchain oracle service, recently underwent a major quarterly token unlock, releasing 19 million LINK tokens, which equate to a value of…
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Of the unlocked tokens, a significant portion, around $205 million worth, was sent directly to Binance, the world’s largest cryptocurrency exchange by trading volume.
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This quarterly unlock is not a one-off event. According to Ember CN, Chainlink has been releasing 10 to 20 million LINK tokens every three months since 2022.
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This quarterly token unlock and the subsequent transfer to Binance is a regular event that many investors have become accustomed to.
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At the time of writing, LINK is trading at approximately $14.02, which is a notable 73% decline from its all-time high.
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The fact that a substantial portion of these unlocked tokens is sent to Binance, where they could potentially be traded or used in other ways, raises the question of how this…
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In conclusion, while the recent unlock of 19 million LINK tokens is a massive move in terms of volume, the immediate impact on the token's price has been limited.
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