Chainlink and its circulation patterns

Chainlink has our attention today because of a long period of losses visible on Network Profit Loss:

What does it mean? Since January, most LINK tokens were moved at a loss. Of course if we assume their previous moves as purchases, last moves as sells. Basically it's one of a bottom indicators. Just one.


Then we discovered an interesting token circulation pattern:

There were a few times when circulation increased, then dumped, and then price surged.

There is a chance we are now in a similar pattern.


If we compare it to LINK and it's circulation one year before...

...Then we could notice some difference. The pattern above working a bit differently. That could be the sign of a bull market itself. Circulation increases, then a lag happens, and then the price grows. Do you notice anything else?


Chart used: https://app.santiment.net/s/4ofkTD-H

Thanks for reading!

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3

Conversations (3)

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@socialtrends
3 years ago

nice observation, thanks. I also started to pay extra attention lately to this metric (circulation)

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@mtkachuk
3 years ago

also you might notice that the weekly unlocks of old coins have stopped: https://app.santiment.net/s/YIXacpbE

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@mtkachuk
also you might notice that the weekly unlocks of old coins have stopped: https://app.santiment.net/s/YIXacpbE
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@socialtrends
3 years ago

true. is it now completely finished (unlocks)?

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