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\t\t\t\t\t\t\t\tPosted: September 17, 2023 The LINK token\u2019s<\/a> circulating supply just increased by roughly 18.75 million tokens in the last 24 hours from non-circulating supply contracts. But could this development yield an unfavorable outcome for the coin?<\/p>\n Token unlocks usually lead to a higher circulating supply for the underlying asset. This is currently what is happening with the LINK token. Now, there is a notable chance that LINK could experience a significant amount of sell pressure. However, this is not the first token unlock for LINK and previous such occasions did not yield a significant price change.<\/p>\n \ud83d\udea8 18.75M $LINK<\/a> ($117M) was unlocked from 4 Chainlink: Noncirculating supply contracts 6hrs ago, of which:<\/p>\n \u2013 15.7M $LINK<\/a> ($98M) was deposited to #Binance<\/a> Notably, 82.75M $LINK<\/a> has been unlocked since Aug 2022, of which 71.8M $LINK<\/a>\u2026 pic.twitter.com\/lqooYQKPt9<\/a><\/p>\n \u2014 Spot On Chain (@spotonchain) September 16, 2023<\/a><\/p>\n<\/blockquote>\n Of course, there is the possibility that the prevailing bullish momentum observed in the last few days could end up cancelling any incoming sell pressure. Interestingly, LINK\u2019s price action<\/a> has already tanked by over 2.2% to its $2.14 press time level.<\/p>\n Source: TradingView<\/p>\n<\/div>\n There is another reason why the token unlocks might not have much of an impact on LINK\u2019s price action. The recently unlocked tokens represent just 2.82% of Chainlink\u2019s current circulating supply. Nevertheless, the higher circulating supply may still trigger some sell pressure.<\/p>\n Other factors may have a more pronounced impact on price. For example, Chainlink\u2019s supply held by whales recently soared to a new weekly high, indicating that there was a large whale purchase. This may have contributed to the bullish momentum observed in the last few days.<\/p>\n Source: Santiment<\/p>\n<\/div>\n On the other hand, Chainlink\u2019s network growth and development<\/a> just concluded the week at a weekly low. These findings can potentially have a negative impact on LINK\u2019s investor sentiment. It is worth nothing that the same metrics have so far not had much of an impact on LINK\u2019s weighted sentiment which is currently at its weekly high.<\/p>\n Read about Chainlink\u2019s price prediction for 2024<\/a><\/p>\n As far as matters related to organic growth are concerned, Chainlink is reportedly on the Depository Trust & Clearing Corporation\u2019s (DCCT) radar. The latter is the largest securities settlement system in the world.<\/p>\n Chainlink\u2019s involvement with DCCT is the latest development involving the protocol that underscores efforts aimed at tapping into the tokenized assets segment. The latter is a segment that is expected to be among the biggest growth segments in WEB3.<\/p>\n .@The_DTCC<\/a> settles quadrillions of dollars worth of securities transactions annually.#Chainlink<\/a> CCIP unlocks interoperability for the tokenized asset market.<\/p>\n Discover how Chainlink and DTCC are collaborating in this new blog by Stephen Prosperi: https:\/\/t.co\/DyqUc0miFH<\/a> pic.twitter.com\/y0uVMFsm35<\/a><\/p>\n \u2014 Chainlink (@chainlink) September 15, 2023<\/a><\/p>\n<\/blockquote>\n
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\u2013 3.05M $LINK<\/a> ($19M) remains in multisig 0xD50f<\/p>\n![\"LINK](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/LINKUSD_2023-09-16_16-33-30.png\")
<\/a><\/p>\n![\"Chainlink](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/ChainLink-on-Ethereum-LINK-16.41.08-16-Sep-2023.png\")
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\nChainlink\u2019s collaboration with DCCT underscores potential growth<\/strong><\/h4>\n
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