Chainlink transferred over $200 million worth of LINK to Binance in the past 5 hours

BlockBeats news, on September 21, according to the monitoring of on-chain data analyst Yu Jin, Chainlink unlocked and transferred 18.75 million LINK from 5 non-circulating supply addresses in the past 5 hours, of which 18.125 million were transferred to Binance, worth about US$207 million, and another 625,000 (about US$7.15 million) were transferred to the 0xD50...8Af multi-signature address.

It is reported that every three months, Chainlink's non-circulating supply address will unlock and transfer about 20 million LINK. Most of them will be transferred directly to Binance, and a small part will be transferred to the 0xD50...8Af address (the LINK transferred to this address enters the LINK staking reward distribution contract, which is used to distribute rewards to staking users).

Since 2022, approximately 133.4 million LINK (approximately $1.29 billion) have been unlocked and flowed into Binance through the above method, with an average transfer price of $9.69. Although a huge amount of LINK is unlocked and flows into Binance on a quarterly basis, each transfer of LINK into Binance did not cause a significant drop in the price of LINK.