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Chainlink unlocks $166M in LINK amid a strong downtrend and weak institutional demand

Market News
20 Jun 2026
AMBCrypto
View Source
Bearish
pluang ai news

Chainlink recently unlocked 21 million LINK tokens worth $166 million, transferring 18.375 million LINK to Binance. Despite this significant token movement, LINK's price remains in a strong downtrend, currently trading around $7.9 after falling from $8.5. The downtrend is driven by weak demand from institutional investors, as LINK spot inflows have been zero for nine days, and technical indicators show sustained bearish momentum. Unless LINK breaks above $8.3, the altcoin may continue to decline towards $7.4.

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