Chainlink Unlocks 18.75M LINK Tokens Worth $215M, Potential Price Rally Ahead
- Chainlink recently unlocked 18.75 million LINK tokens valued at approximately $215 million.
- This move follows Chainlink’s ongoing strategy, demonstrating their engagement with the market and their expanding partnerships.
- Historical data suggests LINK’s price has seen significant uptrends following previous token unlocks, adding interest to this recent development.
Chainlink’s massive token unlocks may pave the way for a substantial price surge, amid strategic partnerships and organic growth.
Chainlink’s Latest Token Unlock and Market Impact
Earlier today, Chainlink unlocked and deposited a notable sum of 18.75 million LINK tokens into the market, with 625,000 LINK allocated to a multisig wallet. This activity is part of Chainlink’s recurring unlocking schedule, where $1.5 billion worth of LINK tokens has consistently entered the market each month since August 2022. Historically, such unlock events have often preceded price surges within 30 days, signaling potential bullish trends for investors.
Historical Trends Following Token Unlocks
Examining the historical data, seven out of the past eight token unlocks have been followed by significant price increases within a 30-day period. For example, Chainlink’s non-circulating supply wallet managed another substantial release of 18.125 million LINK ($207.4 million), subsequently deposited into Binance. These data trends have incited speculation about possibly experiencing a similar spike with the latest token unlock.
Current Price Movement and Market Sentiment
Despite the recent token releases, Chainlink’s price has exhibited minimal movement over the past month, maintaining relatively flat returns. After peaking above $20.00 in March this year, LINK’s value corrected by over 50%, currently stabilizing around $11.35 with a market capitalization of $7.114 billion. This static movement points toward market indecision, with traders awaiting further directional momentum.
Strategic Partnerships Boosting Chainlink’s Ecosystem
On the development front, Chainlink has pursued strategic collaborations to enhance its ecosystem. Notably, Ethereum Layer-2 scaling solution Metis has integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP). This integration is anticipated to broaden the diversity of decentralized applications (dApps) on the Metis platform, advancing cross-chain functionalities and providing innovative opportunities for developers.
Broader Adoption of Chainlink’s Solutions
Moreover, Sonic Labs recently adopted Chainlink’s CCIP to bolster the performance and effectiveness of dApps on its platform, showcasing the growing trust in Chainlink’s technological solutions across various blockchain ecosystems. These integrations underline the expanding use cases and solidify Chainlink’s position as a crucial player in cross-chain interoperability.
Conclusion
In conclusion, Chainlink’s latest token unlock has generated significant attention within the crypto community, especially given the historical precedent of post-unlock price surges. Coupled with its strategic partnerships and integrations, Chainlink is poised for notable potential growth. Investors and stakeholders should monitor market reactions closely, as historical data suggests the possibility of substantial price movements in the near term. Chainlink’s progress in enhancing cross-chain interactions continues to attract attention, setting the stage for future advancements and market performance.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Trump turns on ‘buddy’ Putin over Ukraine, says he’ll slap Russia with sanctions now
Share link:In this post: Trump warned he may hit Russia with new sanctions after fresh missile attacks on civilians. Trump met with Zelenskyy in Rome and called the meeting productive, but gave no full details. Trump offered a peace deal that includes recognizing Crimea as Russian territory, which Zelenskyy rejected.
Trump’s economic and geopolitical failures took center stage at Pope Francis’ funeral
Share link:In this post: Trump’s economic and diplomatic tensions took over the spotlight at Pope Francis’ funeral. Trump met briefly with Zelenskyy, Macron, and Starmer during the service but made little progress. Trump skipped a second meeting with Zelenskyy and left Rome quickly after the Mass.

Elon Musk and Nobel laureates call for investigation into OpenAI’s nonprofit mission
Share link:In this post: Elon Musk called OpenAI restructuring plan the “scam of the century” after experts oppose it. Legal and AI experts have called on Attorneys General of Delaware and California to OpenAI core mission as a non-profit. Concerns about Open AI deviating from its non-profit origins is not limited to Musk.

Republicans propose shutting down US audit regulator PCAOB
Share link:In this post: Republicans plan to scrap the Public Company Accounting Oversight Board (PCAOB). The agency’s responsibilities could be pushed to the SEC if the lawmakers succeed in shutting it down. Republicans also want to pass a major tax bill that could change the non-profit sector.

Trending news
MoreCrypto prices
More








