Chainlink’s Noncirculating Supply Unlocks 18.75 Million LINK Tokens
Chainlink’s Noncirculating Supply Movement
In a significant development, four wallet addresses holding Chainlink’s Noncirculating Supply have unlocked and transferred out a substantial amount of LINK tokens. The total transfer amounted to 18.75 million LINK, equivalent to approximately $119 million at current market prices. Notably, a substantial portion of these tokens, around 15.7 million LINK, found their way to the Binance exchange.
This movement of LINK tokens from the Noncirculating Supply has garnered attention within the crypto community, raising questions about the intentions behind this transfer.
Prior Unlock and Chainlink’s Explanation
It’s worth noting that these same wallet addresses previously unlocked 21 million LINK tokens approximately three months ago. Chainlink provided clarification at that time, indicating that these tokens would be utilized as subsidies, including serving as rewards for nodes within the Chainlink oracle network.
However, the recent movement of an additional 18.75 million LINK tokens has reignited curiosity among Chainlink enthusiasts and the broader crypto community. Questions surrounding the purpose of this sizable transfer and its potential impact on the Chainlink ecosystem are circulating.
As the situation continues to unfold, stakeholders in the Chainlink network will be closely monitoring any further developments and announcements from the project’s team. The movement of tokens from the Noncirculating Supply is a critical aspect of the Chainlink ecosystem, and transparency and clarity surrounding such actions remain paramount.
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