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Tuesday, June 6, 2023

Investors Anxious Amid LINK Growth- Study

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A study shared by prestigious blockchain analytic firm, Santiment, revealed that Chainlink investors are increasingly getting uncertain about LINK’s multi-month rally, this is after $LINK spiked by a whopping 68.7% in the past week.

However, Santiment in a recent tweet explained that the firm has noticed that investors are becoming increasingly uncertain about $LINK prolonged rally. The firm had evaluated some pressing issues affecting the prominent coin after noticing a speculative explosion of interest among investors.

Santiment further pointed out three crucial metrics to back up its claims about $LINK. The first was that LINK deposits into exchanges have reached a new all-time high, this according to on-chain analysts is an indication that there are large numbers of crypto traders and investors making moves to liquidate their investments in $LINK.

The second metric mentioned by Santiment was that the initial $LINK high was marked by the previous spikes in exchange deposits for Chainlink, while the third point was that the Chainlink’s mean dollar invested age metric have begun to plunge.

Another on-chain analystical platform looking forward to Chainlink’s backtrack is the Zeus Capital, a crypto hedge fund that recently became popular after releasing a statement that Chainlink could drop by 99%. The company in another release still expects the prominent coin to fall even though LINK is currently experiencing an explosive price surge.

Zeus took to Twitter to declare to its 6.8K followers that an end is near for the recently seen Chainlink bubble.

Cardano (ADA) Linking up with Chainlink (LINK)

In an earlier development, NewLogical had reported that the Cardano (ADA) is linking up with Chainlink (LINK). Charles Hoskinson who doubles as the IOHK CEO and co-founder of the Cardano Network said he his having a tet-a-tet with the Chainlink founder Sergey Nazarov.

Even though the outcome of the meeting is yet to be revealed, he promised to keep the entire public informed as things unfold. The Cardano boss further reiterated that Chainlink is a great product with the potentials of becoming a broader oracle solution.

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