chainlink continues its run, for some time now. A race without brakes, which allowed the token to ring one record after another. As a result of which, a completely atypical situation has arisen: all addresses attributable to Chainlink are currently active!
The revelation of IntoTheBlock
It was to reveal what is happening IntoTheBlock, an intelligence company. A recent report has in fact highlighted how all the addresses of Chainlink are "In the money". These are defined as those that have an asset between the price at which the coin purchases were made and the current ones.
To understand the importance of the data, it is necessary at this point to remember that in the case of Bitcoin 90% of the addresses would be in surplus, while for Litecoin the figure drops to 47%.
A difficult fact to explain
The data provided by IntoTheBlock, however, seems to give rise to an apparent contradiction. How is it possible that all addresses are active at the same time? In fact, it is a real mystery, considering that for every type of economic activity there is a buyer and a seller.
While trying to understand what the reason for all this is, it should be stressed how some sectors try to warn investors. Just by leveraging the data in question.
Is Chainlink a bubble?
In this task he has been particularly noted Santiment, a graphics provider crypto and market insights, which published a report which clearly states:
- that Chainlink's ratio of market value to realized value (MVRV) has reached an all-time high;
- that when everyone who holds the token is profitable, that's not a good sign.
The second point highlighted by the study is quite understandable: when a large number of investors are making a profit, there is a high probability that a sale. In fact, at that very moment, many investors want to secure that profit and act accordingly.
Of course, the cryptofans community hopes that this doesn't happen and that Link continues his run, perhaps in a sensational way. If not many would be harmed and not just the investors who have trusted him over the past few months.
Meanwhile, however, the partnerships follow one another
If what is happening in terms of capitalization is causing some concern, however, it should be emphasized how Chainlink continues to collect collaborations. Even of prestige, as shown for example by the use of his oracles by Google.
Also Huobi one of the main exchange currently operating globally, he has declared his intention to exploit the Chainlink nodes by incorporating them into his own wallet. He added that it will also integrate its data into Chainlink, thus allowing developers to exploit it in smart contract applications.
Chainlink, its reputation is growing day by day
Just what is happening in terms of collaborations, demonstrates how Chailink's reputation grows day by day. Thus acting as an engine for a rapid growth of its market capitalization. In the last few hours the token has reached the ninth position in the ranking of CoinMarketCap. A position that could represent the basis for a further qualitative leap. Unless, what Santiment recalled suddenly becomes reality.
Therefore, curiosity is growing around one of the Altcoins which, over the last few months, has managed to arouse the greatest interest of public opinion.