According to on-chain analytics company IntoTheBlock, 88% of Chainlink holders are losing money. It claims that this is similar to the levels from the beginning of 2023, which may point to a forthcoming price bottom.
To focus in on the 88% of holders that IntoTheBlock claims are in the red, it might be important to look at the worldwide In/Out of the Money.
Based on whether addresses are making money (in the money), breaking even (at the money), or losing money (out of the money) on their positions at the current price, the Global In/Out of the Money from IntoTheblock classifies addresses.
Accordingly, 11% of Chainlink investors own shares of the company that are profitable. At the present price, 2% of holdings are profitable or in the black, while 86% are losing money or in the red.
A breakdown of the number of addresses indicated in each of these categories is provided by the breakeven price indication.
112,390 locations in all, or 17.65%, have realised gains or are in the black. There are losses totaling 510,020 addresses, or 80.11%. 14,250 addresses, or 2.24%, are breakeven in the meanwhile. This suggests that they are neither making money nor losing it.
As of the publishing of this article, LINK has decreased by 1.63% to $5.99 in the previous day. Following the U.S. Securities and Exchange Commission’s (SEC) assault on major cryptocurrency exchanges Binance and Coinbase at the beginning of the week, the market for cryptocurrencies continued to decline on Thursday.
Swift, the interbank messaging system, announced its partnership with Chainlink and dozens of financial institutions to test interoperability and connection with other blockchain networks. This was Chainlink’s biggest moment of the week.
