At 3:53 AM, Chainlink sent $94 million worth of LINK to Binance: This playbook plays out once every quarter
At 03:53 and 04:01 this morning, two Chainlink Noncirculating Supply multisig wallets (Noncirculating Supply 17 and 24) transferred a total of approximately 7.4 million $LINK , worth about $94.32 million, to Binance deposit addresses (ChainCatcher, citing Etherscan data; also tracked by Whale Alert).
This isn’t the first time—it’s the same old playbook:
1️⃣ Once every quarter: Chainlink’s Noncirculating Supply addresses unlock 10–20 million LINK every three months, most of which goes straight to Binance. In April this year, 19 million LINK were unlocked (14.375 million went to Binance); in June, 21 million were unlocked (18.375 million went to Binance). Both were documented by Ember (@EmberCN) and Arkham’s on-chain tracking.
2️⃣ This time, 7.4 million LINK is a relatively small amount, but $94 million in potential selling pressure is already sitting at Binance’s doorstep.
3️⃣ The market hasn’t reacted yet: LINK was around $12.79 at the time of the transfers and is now at $12.75 (checked on Kraken just now). In the hour after the transfers, LINK fell 0.4%, while BTC fell 0.15% over the same period—an excess decline of just 0.25 percentage points. The bullets are loaded, but haven’t been fired yet.
What this means for your money:
A transfer to an exchange doesn’t mean the tokens have already been sold (they could also be for market-making or liquidity preparation), but historically, LINK has faced short-term pressure after each quarterly unlock. With $94 million sitting there, don’t chase LINK higher over the next few days. Wait for the selling pressure to play out.
Let’s hear your thoughts in the comments: Do you think these 7.4 million LINK will be sold within a few days?
A. Yes—the usual practice is to cash out in batches after a quarterly unlock.
B. No, the amount is small this time, and the price hasn’t even moved.
#LINK #Chainlink #On-ChainData
At 03:53 and 04:01 this morning, two Chainlink Noncirculating Supply multisig wallets (Noncirculating Supply 17 and 24) transferred a total of approximately 7.4 million $LINK , worth about $94.32 million, to Binance deposit addresses (ChainCatcher, citing Etherscan data; also tracked by Whale Alert).
This isn’t the first time—it’s the same old playbook:
1️⃣ Once every quarter: Chainlink’s Noncirculating Supply addresses unlock 10–20 million LINK every three months, most of which goes straight to Binance. In April this year, 19 million LINK were unlocked (14.375 million went to Binance); in June, 21 million were unlocked (18.375 million went to Binance). Both were documented by Ember (@EmberCN) and Arkham’s on-chain tracking.
2️⃣ This time, 7.4 million LINK is a relatively small amount, but $94 million in potential selling pressure is already sitting at Binance’s doorstep.
3️⃣ The market hasn’t reacted yet: LINK was around $12.79 at the time of the transfers and is now at $12.75 (checked on Kraken just now). In the hour after the transfers, LINK fell 0.4%, while BTC fell 0.15% over the same period—an excess decline of just 0.25 percentage points. The bullets are loaded, but haven’t been fired yet.
What this means for your money:
A transfer to an exchange doesn’t mean the tokens have already been sold (they could also be for market-making or liquidity preparation), but historically, LINK has faced short-term pressure after each quarterly unlock. With $94 million sitting there, don’t chase LINK higher over the next few days. Wait for the selling pressure to play out.
Let’s hear your thoughts in the comments: Do you think these 7.4 million LINK will be sold within a few days?
A. Yes—the usual practice is to cash out in batches after a quarterly unlock.
B. No, the amount is small this time, and the price hasn’t even moved.
#LINK #Chainlink #On-ChainData