Exchange inflows for Chainlink price off the charts, investors looking to offload their holdings?
The Chainlink price really surprised everyone when the bulls pushed it to a new high of $ 8.50. However, LINK faced a firm rejection here that caused its price to drop lower. At press time, the LINK token is hovering around $ 7.94, up more than 9% in the past 24 hours.
Exchange inflows for Chainlink price are “off the charts”
Chainlink (LINK) has undoubtedly been one of the top-performing cryptocurrencies for the past two years. LINK consistently sets new all-time highs while many Altcoins still maintain 80% + below their late 2017 highs. With this momentum, if maintained well, LINK still has a chance to increase higher in the medium term. However, if buyers have since been able to construct what could be a mid-term bottom within the lower- $ 7.00 region, this has allowed the cryptocurrency to begin climbing higher. But in the short term, it is not worth mentioning.
Analysts are currently pointing out a large amount of LINK lines into exchange wallets, signaling that ultra-profitable investors are presently seeking to offload their holdings.
Cole Garner stated:
“LINK exchange inflows are *off the charts* – If you’re selling, time to set your orders. Expecting whales to try to exit pump price back up to 85k sats. Safe sell just below 80k sats. Aggressive sell just below 85k sats.”
$LINK exchange inflows are *off the charts*
If you’re selling, time to set your orders
Expecting whales to try to exit pump price back up to 85k sats
Safe sell just below 80k sats
Aggressive sell just below 85k sats pic.twitter.com/rtzQarC5yk
— Cole Garner (@ColeGarnerBTC) July 14, 2020
It seems that the selling pressure will make LINK stronger, possibly going to be between $ 4.60 and $ 4.80. This will mark a nearly 50% drop from its all-time highs.
Analyst Cantering Clark said:
“I absolutely love that so many are killing it. But remember, at some point, the music will stop. And yes, I hand down without a shadow of a doubt think LINK revisits this area.”
Chainlink integrates with social networks led by distributed computing pioneer, too many good news!
According to the announcement from social network Revolution Populi, it seems that they are integrating with Chainlink to give users control over their data.
$LINK +14% today… was there some news or something? https://t.co/jCUEuA0uzN🤔😛 jk! We’re thrilled to be integrating #chainlink middleware to help us accomplish the mission of returning data sovereignty back to the people to whom it belongs! #revpop
— Revolution Populi (@Rev_Populi) July 14, 2020
Revolution Populi is a social network trying to replace Facebook with the idea of creating a place where users can post and share information about their lives. But advertisers will pay for them, not Facebook.
The company’s CEO, Rob Rosenthal, shared:
“It’s obnoxious enough that they take our sovereign property, sell it, and keep all the money. But there are much bigger problems out there as a result. I mean, it is the public square. They do control everything in this public square. As you’ve mentioned, the data resides in their private database. […] We have a solution that we’re calling a three-legged stool approach. It is not just a social net, by the way. It’s an ecosystem.”
Rosenthal believes that Chainlink integration not only provides a necessary layer for his project but can also help the prophet provider broaden its horizons:
“I think they’ve gotten unfairly typecast and the DiFi world. I believe their technology can be spread to other projects such as ours that are more broad-based and more ecosystem-based. I’ve spoken to the guys, and I think that they’re pretty excited about this integration because it brings them into kind of another realm. ”
Recently, Chainlink’s LINK token has been setting new heights of strength for some partnerships and integrations. But, does it good for LINK or fall into the same case as XRP – benefit from Ripple but not priced correctly?
- Whales Are Paying Attention To LINK’s Underlying Strength When Its Investor Base Has Grown By 100% This Year
- Chainlink Price Hit New ATH Of $6.85 Because Of The High Network Activity Of LINK