Chainlink (LINK) has once again moved a significant chunk of tokens to Binance, raising questions among crypto investors and analysts. According to on-chain analytics platform Lookonchain, a total of 17.88 million LINK tokens, valued at approximately $149 million, were transferred from non-circulating wallets to the Binance exchange on June 21, 2025.
This marks the 11th large-scale unlock of LINK tokens in the project’s history, triggering renewed speculation over whether the event signals a potential sell-off—or the beginning of another price rally.
Historical Trends Suggest Post-Unlock Gains
Chainlink’s unlock events have historically been followed by upward price action. Lookonchain’s past data shows that most of the previous token unlocks were followed by positive price movement within 7 to 30 days.
One notable example was in March 2025, when over 14.8 million LINK were moved to exchanges. Despite initial concerns, the token surged over 4% within 24 hours, ultimately forming a short-term uptrend.
“Chainlink’s unlocks often lead to positive market sentiment once initial panic subsides,” said a spokesperson from Lookonchain.
Current Price Reaction and Market Context
Following the transfer, LINK is trading at $12.21, down approximately 3% in the last 24 hours. The dip comes amid broader market uncertainty, influenced by geopolitical tensions and low weekend liquidity.
The transfer to Binance resulted in a noticeable spike in exchange inflows, suggesting increased market liquidity and possible preparation for institutional trading or sell pressure. Trading volume on Binance for LINK spiked nearly 18% following the transfer, according to CoinGlass.
Technical Analysis: Neutral to Bullish
- Despite short-term concerns, technical indicators offer a mixed but potentially bullish outlook:
- Relative Strength Index (RSI) is hovering around 58, indicating a neutral momentum.
- MACD shows a recent crossover, which could indicate an upcoming bullish phase.
- Strong resistance lies at $15, with upside potential toward $18–20 if momentum strengthens.
What Investors Should Watch Next
- Exchange Balances: Whether the 17.88M LINK remains on Binance or is withdrawn could hint at trading intentions.
- Price Action Around $13–15: A breakout above $15 could indicate bullish continuation.
- Market Sentiment: LINK’s price could be influenced by macro factors such as Bitcoin volatility and ETF headlines.
Final Take: Bullish Long-Term, Short-Term Caution
While the immediate move into Binance may raise flags for flash sell-off risk, historic trends and technical indicators suggest this unlock event could catalyze an upward leg in LINK’s price. With solid fundamentals and on-chain backing, Chainlink holders may gain confidence around this cycle—especially if LINK sustains above key technical thresholds.
Disclaimer: All content published by Crypto Pro Live (CPL) is intended solely for informational and educational purposes. It does not constitute financial, investment, or legal advice. While we strive for accuracy and reliability, CPL assumes no responsibility for any financial decisions, losses, or actions taken based on the information provided. Readers are encouraged to conduct thorough research and seek professional guidance before making investment choices.
Nikolai Carter
