- Chainlink unlocked 19 million LINK worth $262 million and sent most of it to Binance.
- A smaller amount of 4.1 million LINK tokens was moved to a multi-signature address.
- Since 2022, Chainlink has unlocked 163.65 million LINK worth over $1.8 billion.
In its latest scheduled token release, Chainlink unlocked 19.1 million LINK, valued at $264.15 million. According to blockchain analyst EmberCN, the tokens were moved from two non-circulating supply wallets five hours ago at the time of the post, with 14.875 million LINK ($205 million) transferred directly to Binance. Additionally, 4.125 million LINKs ($57.04 million) were sent to a multi-signature address (0xD50…8AF), primarily used for staking reward distribution.
The systematic unlock follows Chainlink’s recurring pattern, where every three months, between 10 million and 20 million LINK are moved from non-circulating wallets. The majority of these tokens end up in Binance’s deposit addresses, ensuring liquidity inflow, while a smaller fraction is allocated to the 0xD50…8AF address. The latter receives LINK designated for the staking reward distribution contract, an essential component in rewarding staking participants.
Breakdown of the Transactions
The first wallet (0x9c17f6…F90FF79b) transferred 4,124,999 LINK to the multi-signature wallet (0xD50…8AF) for staking rewards. Additionally, 6,774,999 LINK was sent to Binance’s deposit address (0x9B1c…DE9), increasing exchange liquidity. Minor 1 LINK transfers were also recorded, likely for system testing.
The second wallet (0xd4813…e27) unlocked 8,099,999 LINK, valued at $110.64 million and deposited it into Binance’s address (0x9B1c…DE9), reinforcing the trend of Chainlink’s periodic liquidity injections. A separate 1 LINK transaction was also logged. These movements align with Chainlink’s structured token unlock strategy, ensuring controlled supply distribution.
Historical Context and Market Impact
Since 2022, Chainlink has released 163.65 million LINK, valued at an estimated $1.81 billion, with most of these tokens making their way into Binance. The average transfer price for these unlocked tokens has hovered around $11.06 per LINK. Despite the recurring nature of these unlocks, they do not exert immediate downward pressure on LINK’s price. This is largely because the movement of LINK into Binance does not necessarily indicate direct sell-offs; some tokens are likely redistributed for staking, reserves, or other internal ecosystem needs.
Related: Chainlink Holds $15 Support, Eyes Recovery Toward $20-$27
The strategic allocation of LINK follows a structured schedule, ensuring controlled liquidity injections. Investors and market analysts continue to monitor these transactions closely, assessing their implications for LINK’s long-term valuation and overall market behavior.
