Amid a slight recovery in the cryptocurrency market, Chainlink developers have unlocked a significant amount of tokens from locked wallets.
Large Funds Unlocked
According to data, Chainlink (LINK) developers unlocked 11.25 million LINK worth $258 million and moved $243 million to the cryptocurrency exchange Binance. The remaining assets, $14.4 million, were transferred to a multisig wallet with the address starting at 0xD50.
Chainlink Unblocking History
Since August 2022, Chainlink developers have unlocked 157 million LINK worth $1.73 billion and transferred $1.52 billion of that directly to Binance. The average price per token transferred to Binance was measured at $11.1.
Current Market Position of Chainlink
At the time of writing, LINK is trading at $23.01. The Chainlink development team currently holds 361.5 million LINK tokens worth $8.45 billion, which are held in 15 different key supply contracts. Currently, the total market value of Chainlink's circulating supply is at $14.67 billion.
The unlocking of a large number of LINK tokens indicates significant strategic changes for Chainlink, despite the partial recovery of the crypto market.
