After Partial Recovery, Developers Unlock $243 Million Tokens In This Altcoin

While the cryptocurrency market is experiencing a slight recovery, developers in one altcoin have released a large amount of tokens from locked wallets.

According to data, Chainlink (LINK) altcoin developers unlocked 11.25 million LINK worth $258 million hours ago and moved $243 million of them to cryptocurrency exchange Binance.

The remaining assets, $14.4 million, were transferred to a multisig wallet with the address starting at 0xD50.

Since August 2022, Chainlink developers have unlocked 157 million LINK, worth $1.73 billion, and transferred $1.52 billion of that directly to Binance. The average price per token transferred to Binance was measured at $11.1.

LINK price is trading at $23.01 at the time of writing.

The Chainlink development team currently has 361.5 million LINK tokens worth $8.45 billion, which are held in 15 different key supply contracts.

Currently, the total market value of Chainlink’s circulating supply is at $14.67 billion.

*This is not investment advice.