1. Chainlink Token Unlock
2. $208 Million Sent to Binance
3. Stable Price Despite Token Unlock

Chainlink recently completed a massive token unlock valued at $215 million. The unlocked tokens were partially transferred to the Binance exchange.

Chainlink Token Unlock

According to on-chain data, Chainlink unlocked 18.75 million LINK tokens valued at $215 million from non-circulating supply contracts.

$208 Million Sent to Binance

Of the unlocked tokens, 18.12 million LINK, worth approximately $208 million, were immediately transferred to Binance. An additional 625,000 tokens, valued at $7.18 million, were sent to the Multisig 0xD50f wallet.

Stable Price Despite Token Unlock

At the time of writing, LINK is trading at $11.30, maintaining stability despite the large token unlocks and significant deposits to centralized exchanges. Interestingly, Chainlink has seen price surges following past token unlock events, indicating that these events have not negatively impacted the token's value.

As Chainlink continues its token unlocks and transfers to Binance, the stability in LINK’s price remains a notable aspect. Developers still hold a significant number of tokens, and investors are keen to see how future releases will affect the market.