Chainlink Unlocks $262M in LINK Tokens, Majority Sent to Binance

Coin WorldSunday, Mar 16, 2025 5:22 am ET
1min read

Chainlink, a leading blockchain

service, recently conducted a quarterly token unlock, releasing 19 million LINK tokens valued at approximately $262 million. According to on-chain data analyzed by Ember CN, two Ethereum addresses were responsible for unlocking and transferring these tokens to new wallets. The majority of the unlocked tokens, amounting to $205 million worth of LINK, were sent directly to Binance, the world’s largest cryptocurrency exchange. An additional $57 million worth of LINK was transferred to a separate multi-signature address.

Ember CN explained that every three months, Chainlink’s non-circulating supply address unlocks around 10 to 20 million LINK tokens. Most of these tokens are transferred directly to Binance, while a smaller portion is sent to a specific address (0xD50…8Af) that is part of the LINK staking reward distribution contract. This contract is used to distribute rewards to LINK staking users. Since 2022, nearly 163.65 million LINK tokens, valued at $1.81 billion, have been unlocked and transferred to Binance through this method, with an average transfer price of $11.06.

Despite the significant amount of LINK tokens being unlocked and transferred to Binance on a quarterly basis, the impact on the LINK price in the short term has been minimal. This suggests that the market may have already priced in these regular unlocks, or that the tokens are being distributed in a manner that does not cause immediate price volatility. The regular unlocking and transfer of LINK tokens to Binance indicate a systematic approach to managing the token supply, which could help maintain market stability.

Blockchain tracking firm Lookonchain noted that prior to the latest token distribution, Chainlink had undergone 10 different unlocks, with nine of these preceding rallies for LINK. This observation indicates a potential correlation between token unlocks and subsequent price movements, although it does not guarantee future performance. The historical data suggests that investors may view these unlocks as opportunities to accumulate LINK tokens, potentially driving up the price in the short term.

At the time of writing, LINK is trading at $14.02, which represents a 73% decrease from its all-time high. This price movement reflects the broader market trends and investor sentiment towards cryptocurrencies, rather than being solely influenced by the quarterly token unlocks. The current price of LINK may be influenced by a variety of factors, including market sentiment, regulatory developments, and technological advancements in the blockchain industry. Investors should consider these factors when evaluating the potential impact of token unlocks on the price of LINK.