Chainlink quarterly unlock of 21 million LINK, $145 million directly hits the exchanges
Chainlink has just completed its quarterly token unlock, moving 21 million LINK from 4 non-circulating supply addresses, totaling a value of $166 million. Of this, 18.375 million LINK—87.5%—went directly to Binance, while another 2.625 million LINK was deposited into a multi-sig address for staking rewards distribution.
Every quarter, we see the same script play out: 10 to 20 million LINK unlocked, with most heading straight to exchanges. This isn't a sudden event; it's a rule written into the tokenomics.
The influx of $145 million in LINK to Binance nearly guarantees short-term selling pressure. The project team moves bricks from the non-circulating pool every quarter, and the buyers are always retail traders in the secondary market.
The broader market environment isn't too shabby—BTC at $63,627, up 1.67% on the day, with a funding rate of 0.003% close to neutral; ETH at $1,722, up 1.74%, with a funding rate of 0.004% slightly bullish. However, LINK isn’t facing broader market issues; it’s dealing with its own supply shock. If the market is stable, LINK’s adjustment might be manageable; if the market is shaky, the selling pressure from the unlock could amplify exponentially.
Key BTC levels: Resistance at $64,026 is the daily sell point, while support at $62,618 is the daily buy point. If BTC holds above $62,618, systemic risk remains low, and LINK could stabilize after digesting the selling pressure.
Unlocking every quarter, flooding exchanges with $145 million each time—this is the hidden tax of holding LINK. You think you're holding faith; the project team is cashing in liquidity.
$BTC daily sell point: $64026 daily buy point: $62618
$ETH daily sell point: $1727 daily buy point: $1686
$LINK #LINK $BTC #BTC
Chainlink has just completed its quarterly token unlock, moving 21 million LINK from 4 non-circulating supply addresses, totaling a value of $166 million. Of this, 18.375 million LINK—87.5%—went directly to Binance, while another 2.625 million LINK was deposited into a multi-sig address for staking rewards distribution.
Every quarter, we see the same script play out: 10 to 20 million LINK unlocked, with most heading straight to exchanges. This isn't a sudden event; it's a rule written into the tokenomics.
The influx of $145 million in LINK to Binance nearly guarantees short-term selling pressure. The project team moves bricks from the non-circulating pool every quarter, and the buyers are always retail traders in the secondary market.
The broader market environment isn't too shabby—BTC at $63,627, up 1.67% on the day, with a funding rate of 0.003% close to neutral; ETH at $1,722, up 1.74%, with a funding rate of 0.004% slightly bullish. However, LINK isn’t facing broader market issues; it’s dealing with its own supply shock. If the market is stable, LINK’s adjustment might be manageable; if the market is shaky, the selling pressure from the unlock could amplify exponentially.
Key BTC levels: Resistance at $64,026 is the daily sell point, while support at $62,618 is the daily buy point. If BTC holds above $62,618, systemic risk remains low, and LINK could stabilize after digesting the selling pressure.
Unlocking every quarter, flooding exchanges with $145 million each time—this is the hidden tax of holding LINK. You think you're holding faith; the project team is cashing in liquidity.
$BTC daily sell point: $64026 daily buy point: $62618
$ETH daily sell point: $1727 daily buy point: $1686
$LINK #LINK $BTC #BTC