Chainlink (LINK), the decentralized oracle network, has recently unlocked 1 million LINK tokens from its development fund, raising some eyebrows in the crypto community. The move is part of the company’s planned distribution strategy, but it has led to speculations about a potential sell-off. This release takes the circulating supply of LINK tokens to 350 million, representing approximately 35% of the total supply.
The token’s performance has been impressive, with LINK seeing a 670% increase since the beginning of 2020. Despite the recent token release, it remains resilient in the market. Chainlink continues to demonstrate its potential as a key player in the blockchain industry with partnerships and integrations across multiple platforms. While the token release may cause some short-term market volatility, the long-term outlook for Chainlink appears encouraging.
