Chainlink and its circulation patterns
Chainlink has our attention today because of a long period of losses visible on Network Profit Loss:
![](https://production-sanbase-images.s3.amazonaws.com/uploads/ccb786c90cca9c96c5d156a47bcac0718f214ad6b2e2b2e1dc137d3ca001cbfd_1647373191365_screenshot-nimbusweb.me-2022.03.15-22_36_59.png)
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:
![](https://production-sanbase-images.s3.amazonaws.com/uploads/3cc429b6d1e274f0a9d5323d99c2f43de05a8a93f5b966aed4d57b965b9f4fa6_1647373562774_screenshot-nimbusweb.me-2022.03.15-22_43_58.png)
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...
![](https://production-sanbase-images.s3.amazonaws.com/uploads/adcbfe08c5b4fad95a34a904a90b84dae9b17b8a32280caac97471eb4de56f21_1647373744827_ChainLink%20%28LINK%29%20%5B22.48.57%2C%2015%20Mar%2C%202022%5D.png)
...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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