In recent hours, the Chainlink development team added 19 million LINK to circulation during its regular quarterly token unlocking operation.
Introduction
Chainlink, one of the world's largest altcoins, recently conducted a significant token release operation. This event marked a notable market reaction, as the token price decreased by approximately 5%.
Token Unlock Details
During the latest operation, Chainlink added 19 million LINK worth roughly $269 million to circulation. Of these, 14.875 million LINK were transferred to Binance, while the remaining 4.125 million LINK went to a multisig wallet. A total of 176 million LINK has been unlocked since August 2022.
Market Reaction
Following today's token release, the price of LINK reacted with a loss of approximately 5%. This highlights how significant shifts in the digital ecosystem can instantly affect its participants and asset values.
Thus, Chainlink's regular token release operations cause notable price fluctuations in the market, indicating the significant impact of new releases on the token's value.
