Zeus Capital accuses Chainlink price of orchestrating the most spectacular pump in crypto history

After the Chainlink price increased dramatically, Zeus Capital still holds a pessimistic view on LINK’s doomsday. At the moment, Zeus Capital is warning investors: “Don’t get fooled… exit your positions before its too late.”

Chainlink price sped up to record highs within weeks, as the community hyped the project

Since January, LINK has grown by more than 860% – making it the fifth place on the list of the world’s most valuable cryptocurrencies. By August 28, LINK was up more than 20% from an all-time high near $ 20 hit twelve days earlier.

However, LINK’s rally was driven in part by the Zeus Capital liquidation campaign. In an August 28 report published on its website, Zeus Capital accuses Chainlink of orchestrating the most spectacular pump in crypto history.

It charged:

“Without material, technological improvements, or actual user onboarding, the price almost tripled within less than a month. Lured by the rapid price appreciation, naive investors were outbidding each other.”

According to Zeus Capital, there is a four-part pump cycle that began on July 31. In the second week of August, campaigners set a specific target of $ 11.28 to destroy Zeus Capital’s short position.

Zeus Capital said:

“Scared of missing out, numerous retail investors took part in the pump scheme. FOMO allegedly drove the campaign to exceed its mark into a third phase, peaking at $ 19.85 on August 16.”

Company description further:

“The last phase as gloomy aftermath for investors who had put savings and loans into the pump, using screenshots supposedly taken from Twitter to show investors bemoaning the loss of savings, mortgages… and even families.”

The report concludes by questioning the moral value of the exercise:

“As arrogant as it could get, the pace of Link tokens sent from Smart Contract’s development wallet to Binance intensified during the period.”

Analyst firm Trustnodes has reported that Chainlink developers dumped up to $ 40 million of LINK’s when the price peaked. When Chainlink initially dropped from ATH to $ 15.41 in 48 hours, the token is like a bubble waiting to burst, and it is highly likely that it will eventually lose 99% of its value.


Source: CoinMarketCap

Meanwhile, Link prices rose more than 11% in the past 24 hours, driven by news of the company’s acquisition of Deco. This system is said to improve data transmission on the Internet, from Cornell University.

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