The blockchain oracle Chainlink released 19,000,000 tokens in a quarter. LINK Worth over a quarter billion dollars
Two Ethereum (ETH) addresses unlocked and transferred 19 million LINK tokens worth $262 million to new wallets.
Ember CN reports that $205 million in LINK tokens were sent to Binance – the largest cryptocurrency exchange on the planet by volume of trading. Additional $57 million of LINK were transferred to a different multi-signature wallet.
Says Ember CN
The non-circulating Chainlink supply address unlocks 10 to 20 millions LINK every three months. Most of them will be transferred directly to Binance, and a small part will be transferred to the 0xD50…8Af address (the LINK transferred to this address enters the LINK staking reward distribution contract and is used to distribute rewards to LINK staking users).
Binance has received nearly 163,65 million LINKs ($1.81 billion), with an average price transfer of $11,06, since 2022.
The LINK exchange rate is not affected by the transfer of LINK to Binance.
Lookonchain is a blockchain tracking company. notes Chainlink has gone through ten unlocks before this latest distribution. Of those, nine were prior to rallies of LINK.
LINK’s price is $14.02 at the time this article was written, down 73% from its previous high.
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