Price: $0.46524 19.2765%
Market Cap: 68.35B 2.0384%
Volume (24h): 20.05B 0.5%
Dominance: 2.0384%
Price: $0.46524 19.2765%
Market Cap: 68.35B 2.0384%
Volume (24h): 20.05B 0.5%
Dominance: 2.0384% 2.0384%
  • Price: $0.46524 19.2765%
  • Market Cap: 68.35B 2.0384%
  • Volume (24h): 20.05B 0.5%
  • Dominance: 2.0384% 2.0384%
  • Price: $0.46524 19.2765%
Home > Information news > Chainlink Holders, Be Careful! Massive LINK Unlocks Ongoing

Chainlink Holders, Be Careful! Massive LINK Unlocks Ongoing

Release: 2024/09/21 17:00 Reading: 227

Original author:CaptainAltcoin

Original source:https://coinmarketcap.com/community/articles/66ee85113a360050eaec31a5

Chainlink Holders, Be Careful! Massive LINK Unlocks Ongoing

Chainlink: Beware of Potential Price Impacts from Ongoing Token Unlocks

Massive token unlocks often negatively impact token prices. While most altcoins have experienced gains this week, LINK has remained stagnant, losing 0.5% of its value.

SpotOnChain reported a significant token unlock event for Chainlink this morning, with approximately 18.75 million LINK tokens (valued at $215 million) released from non-circulating supply contracts.

The majority of these unlocked tokens (18.125 million LINK, worth $208 million) were sent to Binance, while 625,000 LINK tokens ($7.18 million) were transferred to a multisig wallet.

Chainlink has been unlocking LINK tokens quarterly since August 2022. To date, 145.75 million LINK (approximately $1.5 billion) have been unlocked, with 126 million LINK ($1.28 billion) deposited directly to Binance at an average price of $10.13.

Despite these substantial unlocks and centralized exchange deposits, LINK's price has remained stable or even increased. However, it's worth noting that Chainlink still holds a significant reserve of 372.75 million LINK tokens (worth $4.27 billion) across 24 non-circulating contracts, suggesting potential future unlocks that could impact token supply and price dynamics.

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