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Developers of an Altcoin Dumped Large Amounts of Tokens on Exchanges During Yesterday’s Drop

By admin On Oct 11, 2025

Amidst the sharp decline in the cryptocurrency market following Donald Trump’s announcement of 100% tariffs on China, a notable development occurred on the Chainlink (LINK) side.

Chainlink’s uncirculated supply wallet deposited 18.75 million LINK (approximately $387 million) worth of tokens to Binance after unlocking them today, according to on-chain data. This marked one of the project’s largest token transfers in four months.

The transfer coincided with a general market decline, with the price of LINK falling by 21.14% in the last 24 hours to $17.59.

Chart showing the decline in LINK price.

Founded in 2017, Chainlink stands out as an industry-standard oracle platform providing data to a large portion of the decentralized finance (DeFi) ecosystem. The project aims to capitalize on trends such as stablecoin adoption, tokenization of real-world assets (RWA), and enterprise blockchain integrations. The LINK token is used to pay for services on the Chainlink network and maintain network security.

*This is not investment advice.

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