Amidst the cryptocurrency market plummeting following President Donald Trump’s announcement of 100% tariffs on China, a notable move occurred on the Chainlink (LINK) side.
According to on-chain data, Chainlink’s uncirculated supply wallet deposited 18.75 million LINK (approximately $387 million) worth of tokens on Binance after being unlocked today. This was one of the project’s largest token transfers in the last four months.
This move coincides with the overall market decline, with LINK’s price dropping 21.14% to $17.59 over the past 24 hours.
Chart showing LINK price decline.
Founded in 2017, Chainlink stands out as the industry-standard oracle platform providing data to a large portion of the decentralized finance (DeFi) ecosystem. The project aims to capitalize on trends such as stablecoin adoption, real-world asset tokenization (RWA), and enterprise blockchain integration. LINK tokens are used to pay for services on the Chainlink network and maintain network security.
*This is not investment advice.
