LINK Price Down After a $295 Million Token Unlock, DeFi Enthusiasts Switch to New DTX Coin

While so many cryptos focus on solving problems of the future, Chainlink focuses on the now. Not only do they provide decentralized price Oracles

The LINK price, like many cryptos, is down today. For many tokens, this is because of 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 up-and-coming DeFi token.

Keep reading to find out what happened with LINK’s price, and the potential of this new DeFi token.

LINK price down after a $295 million token unlock

While so many cryptos are aiming to solve problems of the future, Chainlink is focusing on the now.

They not only provide decentralized price Oracles that make crypto swapping safe, but with their CCIP Protocol, they are also set to enter the RWA (Real World Assets Tokenisation) space.

Chainlink will make it easy for large institutions to trade RWAs in an interoperable way. This will lead to more liquidity, which is precisely what RWAs are here to solve.

Usually, when you have an asset like a house or a luxury car, it can be difficult to sell it. But by fractionalizing it and offering those fractions on the blockchain, using Chainlink or another protocol, it becomes easy to sell.

However, while Chainlink is still considered a good investment by many, there is one issue that we need to discuss – Chainlink’s price and token unlocks.

Cryptocurrencies are usually designed to be deflationary, countering the inflationary nature of fiat. Of course, teams need to retain tokens in order to pay themselves and not sell them all at once. But Chainlink has more locked than usual with just 56% of the total supply unlocked, according to TokenUnlocks.

According to AMBcrypto, 21 million Chainlink tokens have just been unlocked, sparking fears that the LINK price will tumble. Of these, 18.25 million (worth around $295 million) were sent to Binance, suggesting that the project is getting ready to sell.

This sparked a lot of FUD (Fear, Uncertaint, and Doubt) in the market, and LINK’s price is down by 7% on the weekly chart. Given that there are still so many tokens to be unlocked, the LINK price could fall further.

That’s why many DeFi enthusiasts are selling some 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

So what makes the new DTX coin so bullish? For starters, it is in presale. New tokens are great for two reasons:

But there’s more. Like Chainlink, DTX Exchange is planning to offer a lot of functionality that will be used for today’s solutions.

DTX Exchange is a trading platform that combines the best of TradFi (ability to trade stocks, bonds, forex, indices and more), with the best of CeFi and DeFi (trading crypto and RWAs like precious metals on the blockchain).

The reason that DeFi (e.g. Uniswap and DTX) beats CeFi (centralised exchanges like Binance and Crypto.com) is because of anonymity. While most CeFi exchanges ask for KYC, DTX does not. This means that your business is your own and will not be tracked by governments or other financial bodies.

This provides benefits like privacy, high leverage of 1000x and the ability for people all around the world to participate in the platform, no matter their country’s TradFi or CeFi trading regulations.

DTX is currently trading at $0.04, having recently posted gains of 200%. It will launch after another 200% gain, and this may well be the beginning of a much more profitable journey.

Binance is a behemoth but like any business it had to start somewhere – their BNB coin is up over half a million percent from its presale, while fellow DEX (Decentralized Exchange) Uniswap is up by a more modest but still impressive 857% from its launch date.

Considering that DTX Exchange offers a wider range of functionality than both BNB and UNI, it will be interesting to see just how high this coin can go.

Visit the Presale

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