Chainlink

Spot

<a href="https://optimisus.com/press-releases/qubetics-whitelist-ignites-fomo-frenzy-among-polygon-and-chainlink-investors/" rel="noopener noreferrer nofollow">Chainlink</a> has just unlocked 21 million LINK tokens, valued at $295 million, from its non-circulating supply contracts. These tokens were mainly transferred to Binance, which has raised concerns among investors regarding a potential decrease in price.  
Spot On Chain has stated that this increase in volume could exacerbate Chainlink's ongoing price fall. Following the unlocking process, a total of 18.25 million LINK tokens, with a market value of $265 million, were transferred to Binance.  
Additionally, another 2.25 million LINK tokens, valued at $31.3 million, were transmitted to a multisig wallet. Chainlink follows a token unlock plan that gradually releases around 7% of the entire supply each year. As of August 2022, a total of 127 million LINK tokens have been unlocked.  
Notwithstanding these notable fluctuations, the price has predominantly maintained a steady state. Nevertheless, the present market conditions are distinct, as LINK is currently trading in close proximity to a critical support level of $13.5.  
If the value decreases to a level lower than this, it has the potential to decline to $10, which could potentially initiate additional instances of selling off assets.  
There remains a total of 391.5 million LINK tokens, valued at $5.4 billion, that are yet to be unlocked. The timing of future releases will play a vital role in deciding the price of LINK.

Chainlink unlocks $295 million in tokens to Binance

Optimisus

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