The recent unlock of LINK tokens has not only added to the circulating supply but also sparked a wave of speculation among investors and analysts about the future price trajectory of Chainlink. The substantial increase in available tokens often leads to heightened selling pressure as investors anticipate a potential decline in value.

Although today’s decline in LINK’s price aligns with broader market trends, the specific timing of the token unlock exacerbates its impact. The added supply from the unlock might overshadow any positive market sentiments or technical developments in the short term, keeping downward pressure on the price.