Chainlink recently released 21 million LINK tokens valued at $295 million, with most of them going to Binance, sparking worries of a potential price drop for Chainlink amidst broader market declines.<\/p>\n
Chainlink follows a token unlock schedule that gradually releases tokens into circulation, with the recent event pushing the circulating supply over 600 million for the first time. A significant portion, 18.25 million LINK tokens worth $265 million, was swiftly transferred to Binance, potentially prompting holders to consider selling and leading to a possible price decrease.<\/p>\n
Following the token release, there was a further 1.4% decline in LINK’s price as it struggled amid market turbulence.<\/p>\n
Despite previous unlocks not significantly impacting LINK’s price, the current market conditions may result in a different outcome. While historical data shows price spikes post-unlock, the current scenario suggests a drop to $10 is plausible if support at $13.5 fails to hold, triggering further sell-offs and stop losses.<\/p>\n
There are still 391.5 million LINK tokens worth $5.4 billion in 24 contracts yet to be unlocked, and their entry into the market could sway LINK’s price trajectory in the near future.<\/p>\n","protected":false},"excerpt":{"rendered":"
Chainlink recently released 21 million LINK tokens valued at $295 million, with most of them going to Binance, sparking worries of a potential price drop for Chainlink amidst broader market declines. LINK Tokens Flood Market Amid Unlock Event Chainlink follows a token unlock schedule that gradually releases tokens into circulation, with the recent event pushing […]<\/p>\n","protected":false},"author":1,"featured_media":14472,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Chainlink Token Unlock Raises Concerns of Price Dip - Bitrabo","description":"Chainlink recently released 21 million LINK tokens valued at $295 million, with most of them going to Binance, sparking worries of a potential price drop for Ch"},"footnotes":""},"categories":[316],"tags":[4767,347,1820,5331,979,1821,5332,561,541,4179,1242,1244],"class_list":["post-14471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-4767","tag-binance","tag-chainlink","tag-chainlink-unlock","tag-crash","tag-link","tag-link-tokens","tag-million","tag-tokens","tag-trigger","tag-unlock","tag-worth"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/14471","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=14471"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/14471\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/14472"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=14471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=14471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=14471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}