Projecting the impact on LINK’s price after 21 million token unlock

Chainlink [LINK], the decentralized Oracle network, has released 21 million tokens out of its non-circulating supply. What will this entail?

, the decentralized Oracle network, has released 21 million tokens out of its non-circulating supply. At the time of release, the tokens were worth $295 million.

Historically, when a new set of tokens is unlocked, the asset in question might face high volatility. In most cases, the value falls soon after. In this case, according to Spot On Chain, Chainlink sent 18.25 million tokens to Binance after theSending to an exchange implies that the project is ready to sell. However, it also transferred 2.25. million, value at $31.30 million, to its multi-sig wallet.

Hence, the question – Will LINK’s price continue to fall? Let’s look at it from an on-chain perspective. AMCrypto analyzed this potential by looking at the velocity.Velocity measures how quickly tokens are circulating on a network. If the metric is at a low spot, it means that tokens are held, rather than circulated.

According to IntoTheBlock, 12,090 addresses bought 5.84 million LINK at an average price of $13.40. Here, it is important to note that

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