Chainlink Dumps $149M Token Unlock on Binance—Price Crashes to 30-Day Low

Chainlink just flooded Binance with $149 million worth of unlocked tokens—right as LINK prices hit their lowest point this month. Talk about terrible timing.

Market watchers are calling it a 'classic crypto move': reward early investors by dumping on retail. The unlock represents nearly 5% of Chainlink's circulating supply, and the market's already voting with its sell orders.

Price action turned ugly within hours of the Binance deposit, with LINK shedding another 8% against Bitcoin. The oracle network's token now sits 60% below its 2021 all-time high—proving once again that in crypto, 'utility' often means 'exit liquidity.'

Will institutions use the dip to accumulate? Or is this another case of VCs cashing out while Main Street holds the bag? Either way—welcome to decentralized finance.

LINK Faces Rising Sell Pressure

While these events are routine, they often spark debate among investors due to their potential market impact.

Historically, chainlink has shifted most unlocked tokens to centralized exchanges, which can increase the circulating supply and put pressure on the price.

Meanwhile, the unlock also coincided with LINK’s surge in exchange inflows. Data from IntoTheBlock shows around $225 million worth of the digital asset has moved onto exchanges this week.

One notable transfer, reported by Whale Alert, involved 1.9 million LINK, valued at approximately $25 million, was sent from an unknown wallet to Binance.

Usually, heavy inflows to exchanges signal increased sell-side activity. As supply rises, prices tend to soften unless met with equivalent demand. This trend has weighed on LINK’s price performance over the past months.

According to BeInCrypto data, the token has dropped over 5% in the past 24 hours and is now trading around $11.8, its lowest level since April.

LINK has declined by 30% over the last month and is down 13% year-over-year, reinforcing a broader bearish sentiment.

Still, many long-term holders remain optimistic. They argue that Chainlink remains critical infrastructure for decentralized finance, thanks to its proof-of-reserves systems, cross-chain functionality, and compliance tools.

These features have made it a key player in Oracle services, especially in supporting stablecoins and cross-chain assets.

For now, however, traders are watching closely to see whether the post-unlock selloff continues or if LINK can rebound from its recent dip.