Chainlink could face increased selling pressure as $100 million worth of LINK tokens hit exchanges

Chainlink’s supply on exchanges has climbed with 18.75 million tokens hitting centralized exchanges like Binance. This represents $100 million worth o

It remains to be seen whether the large volume deposits to centralized exchanges are absorbed by the demand from large wallet investors, or drive LINK price lower.Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.

To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar , with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.

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