DeFi
Chainlink Token Unlock Drops LINK Price, Insiders Sell to Buy DeFi Token Worth $0.04 in Early
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The price of LINK, like many cryptos, is falling today. For many tokens, this is due to the lower price of BTC. But Chainlink holders are reeling from a huge token unlock and many are selling to find and profit from the next upcoming DeFi token.
Read on to find out what happened with LINK’s price and the potential of this new DeFi token.
LINK Price Down After $295 Million Token Unlock
While many cryptocurrencies focus on solving the problems of the future, Chainlink focuses on the present.
Not only do they provide decentralized Price Oracles that secure crypto exchange, but with their CCIP protocol, they are now ready to enter the RWA (Tokenization of Real World Assets) space.
Chainlink will allow large institutions to easily exchange RWA in an interoperable manner. This means more liquidity, and that’s exactly what RWAs are here to solve. Normally when you own an asset such as a house or a luxury car it can be difficult to sell it, but by splitting it and offering those fractions on the blockchain, using Chainlink or another protocol, it makes it easier to sell. sale.
However, while Chainlink is still considered a good investment by many, there is one issue that we need to talk about. Chainlink price and token unlock.
Cryptocurrencies are generally designed to be deflationary, thus combating the inflationary nature of fiat. Of course, teams must hold onto the tokens in order to pay themselves, and not sell them all at once. However, Chainlink has more locks than usual with only 56% of the total supply unlocked, according to TokenUnlocks.
According to AMBcrypto, 21 million Chainlink tokens have just been unlocked, which people fear will cause the price of LINK to plummet. 18.25 million of them (worth around $295 million) were sent to Binance, suggesting that the project is preparing to be sold.
This has caused a lot of FUD (fear, uncertainty and doubt) in the market, and LINK price is down 7% on the weekly chart. Since a large number of tokens have yet to be unlocked, the price of LINK may continue to fall.
This is the reason why many DeFi enthusiasts sell part of their LINK to buy a new DeFi coin – DTX
A DeFi token with the functionality of LINK but the growth potential of a new project
Why is the new coin DTX so bullish? Firstly because it is on pre-sale. The new tokens are interesting for two reasons:
- They are priced extremely low, which means they have plenty of room for growth.
- There are no other holders who have gone down waiting to drop the price, as we saw with the price of LINK.
And there’s more. Like Chainlink, DTX Exchange plans to offer many features that will be used for current solutions.
DTX Exchange is a trading platform combining the best of TradFi (the ability to trade stocks, bonds, currencies, indices, etc.), with the best of CeFi and DeFi (trading crypto and RWA such as precious metals, on the blockchain).
The reason DeFi (e.g. Uniswap and DTX) beats CeFi (centralized exchanges like Binance and Crypto.com) is due to anonymity. While most CeFi exchanges require KYC, DTX does not. This means that your business is yours and will not be tracked by governments or other financial bodies.
This offers privacy and other benefits, such as high leverage of 1,000x and the ability for people around the world to participate. Regardless of their country’s regulations for TradFi and CeFi trading.
DTX is changing hands at $0.04, having recently posted gains of 200%. It will launch after an additional 200% gain, and this could well be the start of a much more profitable journey.
Binance is a giant but like any business, you had to start somewhere. Their coin BNB is up over half a million percent from its presale, while DEX (decentralized exchange) Uniswap is up a more modest but still impressive 857% from its launch date.
Since DTX Exchange offers a wider range of features than BNB and UNI, it will be interesting to see how far this coin can go.