LINK investors continue to hold HODL despite dismal performance
Chainlink is a fast growing decentralized Oracle blockchain that has virtually no competition in the market. The integration of the platform into many decentralized applications, chains and exchanges makes LINK appear like a lucrative investment. But in the truest sense of the word investing does not bring the right return.
Chainlink is constantly being expanded
The most important factor for any asset is always the growth of the network. Interestingly, Chainlink leads the way in this regard. As one of the most integrated networks, LINK never disappoints users when it comes to functionality.
In the past 48 hours, the Gemini exchange has integrated Chainlink’s proof of reserves for its token-packed Filecoin (FIL). Chain link tweets add this:
“This integration shows how traditional financial institutions can use Chainlink to add transparency to their packaged cross-chain assets.”
Plus, KuCoin was not that long ago begin uses Chainlink’s price data feed to set floating rates for its OTC markets.
In fact, AccuWeather, one of the world’s leading weather forecast sources, announced Node directly on Chainlink. This announcement is the first major weather brand deal that not only accepts crypto payments, but also develops new DeFi weather-based products and marketplaces.
However, due to broader market influences, the LINK token continues to disappoint investors. Last month’s downtrend pulled the coin back below $ 20.
With a drop of 22.5% in 4 days, the LINK-Hodler has more losses for the month than the crash in May.
Price campaign LINK | Source: TradingView
With nearly 60% of all counterparts out of balance, it’s no surprise that investors are now choosing to close their positions. Their positions are currently stagnating, and even news about network developments will not trigger any action.
Chainlink investors are losing money | Source: Intotheblock
The speed dropped sharply, the whales did not move and the long-time hodlers were also “immobilized”, which is proof of their psychology, because these factors were usually very high in the past.
Hodler’s sales activity SHORTCUT long term slow down | Source: Santiment
On the flip side, some are still bullish on the rebound as the network is making a real profit for the first time in almost a month. As a result, investors “buy the dip” 2 days ago after falling 13% on December 13th. Fortunately for these buyers, the altcoin rose 11.1% over the next 2 days. So maybe it’s not the most terrible idea.
ProfitsAhreal n from LINK | Source: Santiment
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