According to Spot On Chain, Chainlink unlocked 19 million LINK, equivalent to $341 million today, February 3, 2024.
Spot On Chain noted that Chainlink unlocked the tokens from three Chainlin noncirculating supply contracts.
Reports showed that Chainlink deposited 15.95 million LINK, equivalent to $287 million to Binance exchange.
According to Spot On Chain, the platform for reporting token unlock insights with on-chain data, Chainlink unlocked 19 million LINK, equivalent to $341 million today, February 3, 2024. The platform reported that Chainlink unlocked the tokens from three Chainlink noncirculating supply contracts.
19M $LINK ($341M) was unlocked from 3 Chainlink: Noncirculating supply contracts ~2hrs ago, of which:• 15.95M $LINK ($287M) deposited to #Binance• 3.05M $LINK ($54.3M) moved to Multisig 0xD50fSince Aug 2022, #Chainlink has unlocked 106M $LINK, and then moved 88.95M $LINK… https://t.co/tqzkKvxE4V pic.twitter.com/aTnEem5d0k
— Spot On Chain (@spotonchain) February 2, 2024
Further details of the unlock provided by Spot On Chain showed that the blockchain project deposited 15.95 million LINK, equivalent to $287 million to Binance exchange. It also transferred 3.05 million LINK worth $54.3 million to an unnamed Mutisig wallet.
Spot On Chain noted that adding the latest unlocked tokens means Chainlink has unlocked 106 million LINK since August 2022. The on-chain data-reporting platform also reported that the blockchain project had moved 88.95 LINK out of the unlocked tokens to Binance at an average price of $9.06.
According to Spot On Chain, there are 4.12 million LINK tokens yet to be unlocked by Chainlink across 24 contracts. It observed that the blockchain token’s price surged by approximately 25% in the last seven days. However, it noted that LINK’s price dipped slightly in the previous two most recent unlocks.
Last September, Spot On Chain reported that Chainlink unlocked 18.75 million LINK, equivalent to $117 million from four Chainlink noncirculating contracts. During that unlock exercise, the blockchain project deposited 15.7 million LINK, equivalent to $98 million on the Binance exchange. It then transferred 3.05 million LINK worth $19 million to the same Multisig wallet mentioned earlier in this post.
Spot On Chain noted that Chainlink appears to have maintained LINK’s price properly over the unlock programs. LINK traded for $17.78 at the time of writing, according to data from CoinmarketCap.
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