Assets covered: Linear (LINA)

Metrics used: Social volume, Active Addresses, Exchange Flow Balance, Network Profit or Loss, Supply Distribution

LINA has been pumping like crazy today. Let's see what happened and what could it's onchain and social data tell us.

What is LINA?

Linear is a cross-chain compatible, decentralized synthetic asset protocol. Linear allows retail users to cost-effectively and quickly create, trade, and manage synthetic assets.

Strategic Investors: Linear has successfully raised over 2 million USD from core strategic investors such as #Hashed, CMS, NGC, Alameda Research, Genesis Block Ventures and Huobi Global.

Tech Developments: Both mainnet Linear Buildr and mainnet Linear Exchange were launched in January 2021 on Binance Smart Chain and are currently live for staking and the trading of synthetic assets.

What happened?

Binance announced a new sort of listing. A discount "subscription sale" on Launchpad right before LINA trading starts on Binance. Price almost doubled in a day.

What's on charts?

1. 1. Social hype (social volume):

The amount of social hype (LINA mentions around crypto social channels) started to increase from almost zero immediately after Binance Launchpad announcement. It peaked a couple of hours prior to the price top, which is quite usual.

2. LINA active addresses:

A number of active LINA wallets increased dramatically between the announcement and Binance trading open. Perhaps people taking advantage of the news.

3. Exchange Flow Balance:

We can see a very significant spikes in amounts of LINA moving to exchanges. To take advantage of the rally of course. Thus creating a powerful sell pressure.

4. Network Profit or Loss:

Lots of profit taking spikes can clearly be seen during the pump. People selling in profit. Then latecomers made the chart spike down, they were probably buying around top and had to sell in loss after all the news played out.

5. LINA biggest holder's balances:

Whales distribution have been showing a little bit of an uptick in the behaviour of large LINA holders last couple of days, which might suggest some people were probably preparing.

TLDR

If it was not a top for LINA, it was very close to it. Now, when I'm writing this, LINA has corrected almost 30%. This was expected. What could Linear do next? Perhaps a nice idea would be to watch the volumes and whales.

Take care.

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Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.