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!

If you enjoyed this insight please leave a like, join discussion in the comments and share it with your friends!

3

Conversations (0)

No comments yet
Be the first to comment

Suggested insights

We are using cookies to improve your experience!

By clicking “Allow all”, you agree to use of all cookies. Visit our Cookies Policy to learn more.

×