18 Million LINK Tokens on Binance: What’s Next for the Chainlink Tokens

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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