/biz/ - Business & Finance

>>15002507
LINK price did most of its dumping BEFORE the 0xdad movements started, not after. After they started, the price has remained fairly stable relative to other alts. This means one of two things.

>1. They're market dumping the coins but buy pressure is so strong they're getting hoovered up without any appreciable dip in price
>2. They're not being market dumped; rather, they are being moved into partners' and/or node operators' wallets to set them up for participation in the network

Either way, it's fucking bullish. Call me deluded, but the numbers don't lie and the market movements don't support the theory of an uncontrolled dump.

Autism anon back with some new LINK stats. On 07/22 I made a first version of which shows that the correction since ATH, and especially since the wallet movements started, has not been nearly as violent as most people like to make out. There has been about a 30% dump since ATH that can be solely attributed to LINK-related variables (cooloff after new ATH, wallet movements, etc), and we have stabilized around that point. The rest of the difference between $4.50 and the current price can be explained by broader market movements that all alts and/or all crypto have been following.

Since 07/22 there has been another intensification in transfer frequency from the 0xdad wallet. This has not actually moved the price that much. We are down just about 4% relative to other alts since 5 days ago, and are actually up 2% versus bitcoin.

Other highlights, mostly unchanged from last time:
>LINK has gained 25 ranks in less than 3 months and been holding steady at rank 17/16 since July 1, when the 0xdad wallet movements started
>Also since July 1, LINK has only seen a price decline of about 10% relative to other alts. It has seen about a 30% decline relative to BTC (which, again, most alts are down 27% relative to BTC
>LINK dominance has risen from .09 to 0.3 since May 1. 0.3 is an UNDERESTIMATE because it is not yet factoring in the 8.4 million new tokens presumed to be in circulation now

The most important point to make is that discord trannies are seizing on the intensification of 0xdad wallet movements and the recent downward trend in the greater crypto space to try to weave the illusion that LINK is dumping violently, that the dump is intensifying daily and that there is no bottom in sight. In reality most metrics show that we have stabilized and are just waiting for the catalyst that will ignite second stage boosters at this point.