Chainlink Unlocks 18.75 Million LINK: $207M Sent to Binance
The post Chainlink Unlocks 18.75 Million LINK: $207M Sent to Binance appeared on BitcoinEthereumNews.com.
Chainlink unlocked 18.75M LINK tokens, transferring 18.125M LINK (worth $207M) to Binance. Chainlink’s strategic token unlock continues, with 18.125M LINK reaching Binance from non-circulating addresses. Chainlink has made important movements, including token transfers and key alliances. According to SpotOnChain, the blockchain oracle network has unlocked and transferred a stunning 18.75 million LINK tokens from five non-circulating supply addresses, with a significant amount—around 18.125 million LINK, valued at around $207 million—going to Binance. This transfer demonstrates Chainlink’s continued strategy of freeing tokens, which has been occurring every three months since August 2022. 18.75M $LINK ($215M) was unlocked from Chainlink Noncirculating supply contracts ~4hrs ago, including:• 18.125M $LINK ($208M) sent to #Binance• 625K $LINK ($7.18M) sent to Multisig 0xD50f Notably:– @chainlink has been unlocking $LINK every 3 months since Aug 2022, totaling… https://t.co/UbsVLP7Bi4 pic.twitter.com/nTCqSJYxu5 — Spot On Chain (@spotonchain) September 21, 2024 Chainlink Systematic Token Unlock Strategy and Remaining Reserves Since the start of this unlocking procedure, Chainlink has issued 145.75 million LINK tokens, totaling $1.5 billion. An amazing 126 million LINK, valued at around $1.28 billion, were instantly deposited into Binance with an average price of around $10.13 per token. The steady flow of tokens to Binance implies that Chainlink is taking a systematic approach to ensuring liquidity for its tokens. Even after these large-scale transfers, Chainlink still holds 372.75 million LINK tokens, worth about $4.27 billion, across 24 non-circulating contracts. This suggests that a major amount of the supply is still locked in, which may have an impact on future market price dynamics and supply metrics. Beside that, Chainlink is expanding its technological and cooperation activities. As we previously reported, Chainlink has announced a cooperation with Fireblocks, a prominent digital asset custody platform. This alliance intends to safeguard stablecoin transactions around the globe, which is an important step toward increasing…
Filed under: News - @ September 22, 2024 9:24 am