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Production of bean sprouts using the toxin 6-Benzylaminopurine (6-BAP) has led to criminal proceedings in Lao Cai, authorities said, after police uncovered a facility supplying toxic sprouts to wholesale markets. On April 4, Lao Cai Provincial Police announced the indictment of Chu Thi Hoa (born 1990, from Phu Tho) for…
Chainlink has released 17.875 million LINK tokens worth approximately $165 million in its latest scheduled quarterly unlock, according to on-chain data. Of this amount, 14.875 million LINK tokens valued at around $125 million were sent directly to Binance, one of the world’s largest cryptocurrency exchanges. Analysts widely interpret large exchange inflows as a bearish signal, often indicating that token holders may be preparing to sell.
The remaining 4.125 million LINK tokens, worth roughly $40 million, were routed to a multi-signature wallet designated for staking rewards distribution. While staking incentives are designed to encourage network participation, critics argue there is an economic tension: Chainlink continuously expands its circulating supply to fund these rewards, which dilutes the token’s value for the participants it aims to attract.
This ongoing supply pressure appears to be weighing on LINK’s market performance. The token posted a modest 0.83% gain to $8.67 over a recent 24-hour window, but has dropped 7% over the past month and fallen roughly 60% across the last six months. The decline is attributed to a combination of broader crypto market weakness and project-specific selling pressure.
Despite the downward price trend, on-chain analytics platform Santiment reported a notable uptick in large-scale accumulation. The number of whale wallets holding one million or more LINK tokens rose 25% over the past year, increasing from 100 to 125 addresses. Santiment suggests this quiet accumulation by sophisticated investors could position LINK for a rebound once market sentiment improves.
Chainlink continues to strengthen its enterprise credentials, having launched pilots with global institutions including Swift, Mastercard, and J.P. Morgan focused on tokenized assets and cross-chain interoperability. However, until quarterly token distributions to exchanges slow meaningfully or institutional adoption creates direct demand for LINK in the open market, the token’s path to recovery remains challenging.
In brief\n\nBitcoin dropped to about $93,000, falling back below the EMA50 and putting its recent golden cross at risk of invalidation. The global crypto market cap stands at $3.15 trillion, down 2.38% in 24 hours. On Myriad Markets, 82% of the money is betting on Bitcoin pumping to $100K before…
