Chainlink

Coin

<ul class="news-points"> 
 <li>Chainlink unlocked 11.2 million LINK tokens and sent 8.2 million into Binance.</li> 
 <li>LINK’s market structure had become bearish and may not reclaim $17.22 in the short term.</li> 
 <li>The LINK price has the potential to drop below $14 as selling pressure continues to increase.</li> 
</ul> 
In an unexpected circumstance, two <a href="https://coinedition.com/chainlink-link-surges-over-5-on-staking-upgrade-enthusiasm/">Chainlink (LINK)</a> non-circulating supply addresses sent $128 million worth of the token into Binance, based on data from <a href="https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x959815462eec5fff387a2e8a6871d94323d371de" target="_blank" rel="nofollow">Etherscan</a>. This value was part of the 11.2 million unlocked tokens and the transfer implied that these tokens would be sold. 
However, the action came as a surprise to the Chainlink community. This is because the project had initially said that the non-circulating supply would not be sold but be used as subsidies, and rewards for the network nodes. 
<h2 class="wp-block-heading" id="h-an-explanation-is-not-enough">An Explanation Is Not Enough&nbsp;</h2> 
Some comments related to the disclosure showed that LINK holders were not dissatisfied with the development. However, ChainlinkGod, a community ambassador of the project tried to explain the reason for the action. 
In a post on X, ChainlinkGod referred to the communication in June that the web3 project had, noting that the transaction was nothing out of the ordinary.…
The post <a href="https://coinedition.com/why-chainlink-link-may-drop-below-14-amid-recent-occurrence/">Why Chainlink (LINK) May Drop Below $14 Amid Recent Occurrence</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Why Chainlink (LINK) May Drop Below $14 Amid Recent Occurrence

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