Techub News reported that Chainlink completed its quarterly token unlock on June 20, releasing a total of 21 million LINK with an estimated value of about $166 million. Following the unlock, 18.375 million LINK, valued at approximately $145 million, was transferred to the Binance exchange. The remaining 2.62 million LINK was moved to a multisig wallet designated for staking reward distribution.
Transfers tied to Chainlink’s regular allocation plan
The unlock is part of Chainlink’s routine token allocation program. According to the project’s explanation, the released tokens are mainly intended to provide liquidity, fund operations, and support the staking program. On-chain monitoring showed that the related transfers led to a significant increase in net inflows to exchanges, largely because of the large LINK transfer to Binance.
The project also emphasized that the tokens sent to the exchange and the multisig wallet were not a direct sale and did not represent inflationary issuance. AMBCrypto noted that the quarterly unlock remains within Chainlink’s established distribution arrangement, with attention centered on the 18.375 million LINK transferred to Binance and the 2.62 million LINK allocated for staking reward distribution.