18 Million LINK Tokens on Binance: What’s Next for the Chainlink Tokens
Journalist
Posted:
- Over 18 million LINK tokens were transferred to the Binance exchange.
- LINK has decreased by less than 1% in the last 24 hours.
Recent data indicates that Chainlink [LINK] has emerged as the most active ERC-20 token in terms of development over the last month.
A closer look reveals that a substantial number of LINK tokens have been moved to an exchange in the past day, signaling potential upcoming market fluctuations.
Chainlink Leads Development Efforts
According to Santiment’s findings, Chainlink has experienced the highest level of development activity among ERC-20 tokens over the previous month, surpassing both Ethereum and other leading assets.
During this period, LINK registered over 624 development events, while Ethereum trailed behind with approximately 298 activities.
An analysis highlights that LINK’s development efforts have shown a positive trend following a sharp decline observed in late July.
The project initially hit a low point with around 38 activities but quickly rebounded to approximately 212 at present, showcasing significant progress by its team.
Source: Santiment.
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Chainlink Tokens Released:
Data from Etherscan indicates that Chainlink recently released
and shifted
about
**18.75 million LINK** from five dormant addresses.
Of these,
**18.125 million LINK**, valued around **$207 million**, was sent to Binance.
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The token release aligns with Chainlink’s quarterly schedule,
where approximately **20 million LINK** is transferred every three months.
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Since **2022**, during eight unlock events,
approximately
***133.4 million LINK**** worth about $1.29 billion have been introduced into circulation,
seven of which were followed by price increases within a month.
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Recently unlocked tokens significantly influenced
+
*LINK’s netflow*
+
CryptoQuant reports indicate that there was a positive netflow exceeding ***11.4 million LINK*** for chain link , marking the highest level since June coinciding with this latest token unlock.
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Source: CryptoQuant.
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Based on current pricing trends post-token-release calculations suggest that *LINK* may experience upward movement over coming weeks.
Based on technical indicators it appears poised not only markets raise it could potentially approach long-held resistance levels surrounding ***14 dollars*** as it navigates towards better performance metrics impacting sustained value growth going forward.
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