On June 21, Chainlink (CRYPTO:LINK) unlocked 21 million LINK tokens, worth approximately $300 million, increasing its circulating supply by 3.57%.
Nearly 87% of these tokens were transferred to Binance, raising concerns of a potential sell-off and impacting LINK's price, which dropped 4% in the past 24 hours.
This move follows a pattern of regular token unlocks since August, with over 107 million LINKs transferred to Binance.
Despite the immediate market impact, some analysts believe the price will remain stable.
Chainlink continues to benefit from growing interest in tokenised real-world assets, attracting key financial institutions like Franklin Templeton and BlackRock.