Chainlink price analysis 14 August 2019; bullish short term ahead – Cryptopolitan

14 August 2019; bullish short term ahead  CryptopolitanChainlink may be the only out there that has a positive short term ahead of it. The coin is forming a bullish surge once it hits its next support level which …
Source: worldnewsoffice
Chainlink price analysis 14 August 2019; bullish short term ahead – Cryptopolitan

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Chainlink Leading Altcoins In On-Chain Activity – Inside Bitcoins

In On- Activity  Inside BitcoinsDespite the general lack of interest in altcoins, is going against the grain, and it has seen rising activity in its network.
Source: worldnewsoffice
Chainlink Leading Altcoins In On-Chain Activity – Inside Bitcoins

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Altcoin Chainlink On-Chain Activity Makes It A Standout In Crypto Market – newsBTC

On- Activity Makes It A Standout In Crypto Market  newsBTCOn- activity in crypto assets can be helpfin in fundamental and also may have helped stop the top of the recent Chainlink rally.
Source: worldnewsoffice
Altcoin Chainlink On-Chain Activity Makes It A Standout In Crypto Market – newsBTC

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Altcoin Chainlink On-Chain Activity Makes It A Standout In Crypto Market

The crypto market is a new and emerging asset class that – due to the various innovation factors, its speculative nature, and the technological intricacies of each individual coin – makes assigning a value to any exceedingly difficult to pinpoint with any sort of accuracy.

Crypto analysts use a variety of metrics to determine any fundamental benefits that could affect the long-term growth of the asset. One such metric is on- activity, and according to a prominent crypto analyst, few altcoins are as “attractive” as – a crypto asset that recently took the market by storm – when comparing on- activity data.

Chainlink On-Chain Activity Among Strongest in Market

On-chain activity is a data point crypto analysts often look at when performing fundamental of a crypto asset. On-chain activity represents all of the transactions being broadcast across a crypto asset’s network and includes everything from payments, to transferring funds to exchanges or wallets, and more. The idea is, the more activity the crypto asset has on its network, the more valuable that network is and can grow larger more rapidly via a network effect.

Related Reading | Altcoin Apocalypse: Only Two of Top Ten Crypto Cap Have Outperformed Bitcoin 

When it comes to the altcoin market, on-chain activity is dwindling across the space as the hype and interest in crypto and blockchain has fizzled and begun to instead focus on Bitcoin and its new narrative as a safe haven asset. However, there is one “attractive” standout, according to prominent crypto analyst Josh Rager, and that’s Chainlink, an altcoin that enjoyed its time in the limelight in recent weeks as it made headlines and went on a powerful rally.

Rager says that on-chain network activity can help investors select assets more apt to perform during a bull market, and the “significant growth” Chainlink has seen in transfers each month shows a boost in token interest and usage. Because of the steady and significant growth, Rager says that “ looks more attractive on-chain than [the] majority of altcoins.”

How On-Chain Activity Helped Spot Obvious Crypto Climax

On-chain data as a metric crypto analysts and traders can use to determine price movements and trends doesn’t stop at showing investors which assets to load up on for bull markets. It also can help spot a climax in surging interest, which could also help investors understand when best to sell the asset in order to buy back later at a cheaper price.

Related Reading | Crypto Pundit: Altcoin Sentiment Will Cause Bitcoin to Collapse 

On-chain activity in Chainlink clearly showed a “obvious climax” in interest, according to crypto analyst NebraskanGooner. In a Glassnode chart shared by the analyst, on-chain transfers peaked the same time that Chainlink’s bull rally did, and helped time the buying climax.

Had Chainlink holders sold at the peak of transfers, they also would have sold the top of the rally. On-chain activity could be a helpful weapon in the arsenal of any trader or analyst hoping to gain an edge in the crypto market.

The post Altcoin Chainlink On-Chain Activity Makes It A Standout In Crypto Market appeared first on NewsBTC.


Source: newsbtc
Altcoin Chainlink On-Chain Activity Makes It A Standout In Crypto Market

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Chainlink (LINK) Dump Erases $600 million in Market Value

chainlink

Roughly $600 million in the market value of tokens has been erased after a series of bulk sales triggered in July. Following a 4chan media blitz conducted by the development team, valuations have fallen by nearly 60% (after reaching highs above $4.80 on June 29th).


ChainLink Market Value Evaporates

After Chainlink raised $32 million in its 2017 ICO, crypto analysts were already criticizing its skewed distribution metrics. Out of a total of one billion LINK, the development team held 650 million Links while allowing the 350 million remainder to circulate throughout the market. Despite the questionable foundation created by these unfavorable scenarios, ChainLink valuations rose by more than 3,710% in less than two years.

4chan Media Blitz Inspires FOMO

However, large portions of these gains accumulated after an apparent marketing blitz on 4chan’s /biz/ board was conducted earlier this year. In a matter of weeks, ChainLink valuations experienced a ten-fold rally that caught many in the market off-guard, with TrustNode asking some tough questions:

For months now 4chan’s /biz/ could easily be mistaken for /chainlink/, one to dismiss the project. The astronomic recent rise of about 10x in weeks could also lead one to just call it a 4chan pump, but is there actually something here?

Shortly thereafter (July 6th), the Chainlink development team issued a statement that should have been viewed as an ominous warning signal for any crypto investor with bullish exposure:

We do sincerely appreciate our community’s continued support and understanding as we expand the number of people on Chainlink, and we will of course do our best to ensure that our expansion plans are accomplished responsibly, carefully managing the company’s resources, capital and LINK.

In the press release, we can see the development team telling its investors that the ChainLink team needed to sell portions of their massive holdings in order to hire new people (i.e. for positions like “Technical Documentation Writer”). However, these claims remain questionable given the fact that ChainLink raised $32 million during its ICO less than two years ago.

Ripple Labs Similarities

The ChainLink story sounds eerily similar to events that unfolded at XRP, where another series of unfortunate market practices led to significant losses for investors.

As Bitcoinist reported, Ripple Labs systematically dumped an average of 2.425 Billion XRP tokens each year (starting in 2014). When many coins in the crypto market saw declines of +90% during the bear market periods of 2018, XRP valuations plummeted by roughly 88% (relative to its BTC pairing). Despite the massive losses felt by most investors, Ripple Labs managed to bank incredible profits of more than $530 million.

ChainLink’s Suspicious Action

According to data compiled by etherscan, heavy selling pressure was directed at ChainLink over a 40-day period where 700,000 Links were sold on 14 different occasions. With a total of roughly 10 million Links sold, this creates an estimated market value of about $30 million.

ChainLink / USD - TradingView.com

ChainLink / USD – TradingView.com

The chart history has only added to the market’s suspicions, as it shows large volume spikes on June 13th and June 29th. Both periods are accompanied by surges in market valuation. The second major increase in volume saw a rise to over $860 million, which is notable given its $1.4 billion total market cap.

Trends have since fallen back to more normalized levels with volumes of approximately $70 million and price valuations below $2.50.  However, these divergences from the historical averages suggest more could lie ahead for those following the storyline of ChainLink.

What do you think lies ahead for ChainLink? Let us know in the comments below!


Images via Shutterstock, LINK/USD charts by Tradingview

The post Chainlink (LINK) Dump Erases $600 million in Market Value appeared first on Bitcoinist.com.


Source: bitcoinist
Chainlink (LINK) Dump Erases 0 million in Market Value

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NEO are working with ChainLink to build Oracle Service on NEO

NEO are working with ChainLink to build Oracle Service on NEO

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NEO are working with ChainLink to build Oracle Service on NEO

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Chainlink (LINK) Still A Better Investment Than Litecoin (LTC) Despite Coming Halvening – Josh Rager

Update on Cryptopia Hack: Police Investigation has Commenced but too Early to Conclude

Litecoin halving is only a day away and the Litecoin Foundation is getting ready for the big event. One significant mark that was expected as the halving approaches is a significant rise in the of LTC, the organization’s native token. Although it has seen some price gains in the past which was attributed to the coming halving.

However, the tables have turned and with few days to go, LTC is in the red even though some are glowing. If anything, the cryptocurrency is expected to be glowing in green by this time but something seems wrong and cryptocurrency trader and analyst Josh Rager Weighs in on the situation, comparing LTC and as potential investments.

Link, A Better Investment?

Rager opined that both LTC and LINK have a huge fan base, but LINK seems to be a better investment at this time regardless of Litecoin’s approaching halving. He said LTC has been in a downtrend and that is not likely to change soon as it has not been able to hold support against BTC. LINK, on the other hand, has been making some impressive moves and has shown plausible response at support, he added.

LINK is currently enjoying a gain of 22.11% in the last 24 hours and 18.86% against BTC while holding 20.36% against ETH. LTC, on the other hand, has lost 3.36% in the last 24 hours and 4.7% against BTC and the crypto community seems to share Rager’s sentiments on the two. One of the respondents to his Twitter post on the two cryptocurrencies @ShineThatLite wrote:

“Based on speculation and serious partnerships #Link should be worth more than Litecoin right now in my opinion if Google acquires Link game over !”

In 2019

Chainlink has been one of the top-performing cryptocurrencies since June 2019. At the end of June, it rose to its yearly peak of $4.26. Although it later declined sharply to the $2 price level, it is now on the rise again, currently trading at $2.58. With the level of support that it is getting from the crypto community and potential investors, it may soon be going back to its yearly high again.

As the halving for Litecoin approaches, there may also be hope for LTC, if not before then after the halving is done. However, for now, the odds appear to be against the 4th largest cryptocurrency and there is no telling if things will eventually get better as the market can be quite unpredictable.

The post Chainlink (LINK) Still A Better Investment Than Litecoin (LTC) Despite Coming Halvening – Josh Rager appeared first on ZyCrypto.


Source: zycrypto
Chainlink (LINK) Still A Better Investment Than Litecoin (LTC) Despite Coming Halvening – Josh Rager

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Chainlink price analysis: sentiment bearish despite breakout – Cryptopolitan

: sentiment bearish despite breakout  CryptopolitanMuch like the rest of the , price analysis is based on Bitcoin’s performance and its overall market dominance in the short and medium terms.
Source: worldnewsoffice
Chainlink price analysis: sentiment bearish despite breakout – Cryptopolitan

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Chainlink price analysis 30 July 2019; small consolidation but bears taking over – Cryptopolitan

30 July 2019; small consolidation but bears taking over  CryptopolitanMuch like the rest of the , price analysis is based on Bitcoin’s performance and its overall market dominance in the short and medium terms.
Source: worldnewsoffice
Chainlink price analysis 30 July 2019; small consolidation but bears taking over – Cryptopolitan

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IOTA, Cosmos, Chainlink, Enigma and 11 other projects at a free devcon in Berlin

IOTA, Cosmos, Chainlink, Enigma and 11 other projects at a free devcon in Berlin submitted by /u/tedfoo25
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Source: CryptoCurrency
IOTA, Cosmos, Chainlink, Enigma and 11 other projects at a free devcon in Berlin

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