Will Chainlink face sell pressure after massive token unlock


17 Sep 2023 6:30 AM

Chainlink’s supply held by whales recently soared to a new weekly high, indicating that there was a large whale purchase. This may have contributed to the bullish momentum observed in the last few days....

  • The circulating supply of the LINK token has increased by approximately 18.75 million tokens in the last 24 hours from non-circulating supply contracts.
  • This token unlock could potentially lead to sell pressure on LINK, but previous unlocks did not result in significant price changes.
  • The recently unlocked tokens represent only 2.82% of Chainlink's current circulating supply.
  • Other factors, such as the increase in supply held by whales and the decrease in network growth and development, may have a more pronounced impact on price and investor sentiment.
  • Chainlink's collaboration with the Depository Trust & Clearing Corporation (DCCT) highlights efforts to tap into the tokenized assets segment and contribute to long-term growth.

The sentiment in the article is mixed. While there is a concern about potential sell pressure due to the token unlock, there are also factors like bullish momentum and collaboration with DCCT that indicate potential growth for Chainlink.

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You May Ask

What is the impact of the latest token unlock on the circulating supply of the LINK token?How might the token unlock affect the price of LINK?What other factors could influence the price of LINK?What is the significance of Chainlink's collaboration with DCCT in the tokenized assets market?How has investor sentiment towards LINK been affected by recent developments?

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