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.