Chainlink News - 16% Dip - Devs Dumping

[BTC Future 3946]

Chainlink was founded by Sergey Nazarov and had their ICO during the fall of 2017. 

 

What is Chainlink?

Chainlink is an Oracle. Meaning that they offer services to connect blockchains and transfer feeds of data from outside centralized sources into blockchains.

For example, DEX's (Decentralized Exchanges) require reliable data about the exchange rate between cryptocurrencies and fiat currencies. Chainlink takes reliable off-chain data from exchanges and inserts them on smart-contracts.

 

This interoperability Chainlink provides along with the dozens of partnerships (Google, Oracle) the project strategically announced, has helped the LINK token grow as high as $20 recently and reach the 5th place in cryptocurrency indexes as Coinmarketcap in terms of total market cap value.

 

Price explodes - Devs Selling

Recently there has been certain news about Chainlink developers dumping coins trough OTC and exchanges like Binance (source) using obfuscated mechanisms to hide the transactions. It seems that at least $40million was made so far. Without the need for such news, even if they are proven to be FUD, the fact is that Chainlink has over-performed so far. Also, the price seems to have started dropping after reaching $20 and a dip of 16% has occurred. 

Weekly Chart - Source: Bitcoinwisdom.io

Year to date, Chainlink is up by 1000% and as many DeFi projects it enjoys a parabolic rise currently but this is not a recommended buy on any case. A pull-back to 61,8% fib retracement would send Chainlink back to $7,60 which may be a good trading opportunity. 

The chart above is the Binance LINK/USD and you can observe that a few months ago it had a flash-crash on Binance and did reach $0,0001, where a lucky trader bought 900k of LINK for this price (source). 

 

 

Edited August 19, 2020 by BTC Future

[Moaz 7239]

I was surprised about a month ago when I found that a currency  ChainLink is in the list of the top 10 cryptocurrencies in Coinmarketcap and I tried to search more about this currency and its project and found that many experts in the field of cryptography advise investing in this currency, so I am waiting for its price to drop, to buy this currency 

[Mwangi 5611]

Wow that is one of the best artcile there is here online thank you for the so many advice and the information you have posted here, so thank you for even understanding the whole idea that is to welcome everything perfectly so we need to really define certain things that work for you

[BTC Future 3946]

21 minutes ago, Mwangi said:

Wow that is one of the best artcile there is here online thank you for the so many advice and the information you have posted here, so thank you for even understanding the whole idea that is to welcome everything perfectly so we need to really define certain things that work for you

Thanks @Mwangi I initially wanted to write just about the Chainlink devs selling coins news, but I thought that not many people might know what Chainlink is, so I've given a description. The chart is weekly and I'm bearish with LINK as it is priced above what it should be in my opinion.

[Calvinpriva 17296]

Good article, i saw many traders on yobit who are trading this coin but i never thought it would grow to this current price. It's lucky for those traders who were having large amount of LINK. Do yo think it's price will keep growing or will decrease? According to your experience. 

[Raqeebzy 6456]

This was meant to happen but in no way did I think it would be sooner as this. It massive and sudden price surge was linked to the growing interest in DeFi; funds in ETH locked in DeFi quadrupled in just a month and as a result, LINK went parabolic bulling. I think it will recover, might just be an opportunity to invest a little for short term.

[MuhammadSh 3067]

As many Defi projects.. i don't know how many people believe in these projects and invest in them heavily! nowadays i really learned a new thing, the price of any currency can be affected by only some news.. even if they are right or fake! 

1000% isn't a normal percentage.. and i don't think that those who invest in cryptocurrencies like this now would be lucky to earn huge profits as they think! the worst thing to do is that buying cryptocurrencies in high prices..

[Whited35 15285]

Just like Chainlink's LINK, there was almost the same game-play for pumping and dumping of TWT. I think devs are managing to wrap up the huge benefits from this sort of major game-play in the cryptocurrency markets. I guess TWT is on the same way as Trust wallet recently announced TWT listing on BinanceDEX but there is already a massive dump for TWT.Investors are getting increased for LINK despite its major dumps, let's see the game. I am still holding LINK tokens. 

[kmojib 0]

Link is top 10 cryptocurrency in coinmarketcap. Now many investors invest on chainlink. I bought some link when price was 10$ now I want to hold it until price reach 25$. I hope this month link price touch 25$.

[BTC Future 3946]

21 hours ago, kmojib said:

Link is top 10 cryptocurrency in coinmarketcap. Now many investors invest on chainlink. I bought some link when price was 10$ now I want to hold it until price reach 25$. I hope this month link price touch 25$.

Good luck with that, but don't you think that after getting 100% profits it is wise to just take the profits out? Don't be greedy, although it is your money and I'm not recommending any trade action. It is a question about your trading plan.

[rekter 8129]

Honestly that €20 top was classic elliot wave theory (wave 5) playing out, anyone who shorted on that TA made money. I would have been amazed if that uptrend would have continued without a pullback.

 

Edited August 21, 2020 by rekter

[BTC Future 3946]

7 hours ago, rekter said:

Honestly that €20 top was classic elliot wave theory (wave 5) playing out, anyone who shorted on that TA made money. I would have been amazed if that uptrend would have continued without a pullback.

The way I see it a pullback to $7 and perhaps bounce there up to $10 is very possible. Also $4 as well. Had these LINK shills nagging me for months. Seriously this was a huge pump 'n dump. I didn't expect it to reach above $9.

[rekter 8129]

2 hours ago, BTC Future said:

The way I see it a pullback to $7 and perhaps bounce there up to $10 is very possible. Also $4 as well. Had these LINK shills nagging me for months. Seriously this was a huge pump 'n dump. I didn't expect it to reach above $9.

Huh? I need to do my TA again, i thought $14 would be a good entry, and if that fails, $10 would be the absolute bottom. I guess we shall see. I am not in it right now, nor do i have leverage short positions. In fact i wouldn't even mind if this thing just faded away.

 

Anyway, top 5 was too high for this imho. I don't see oracles system fundamentally different from any reliable system. Only more costly. Because oracles are only as reliable as their sources.

[CryptoDemon 370]

On 8/19/2020 at 4:57 PM, BTC Future said:

Chainlink was founded by Sergey Nazarov and had their ICO during the fall of 2017. 

 

What is Chainlink?

Chainlink is an Oracle. Meaning that they offer services to connect blockchains and transfer feeds of data from outside centralized sources into blockchains.

For example, DEX's (Decentralized Exchanges) require reliable data about the exchange rate between cryptocurrencies and fiat currencies. Chainlink takes reliable off-chain data from exchanges and inserts them on smart-contracts.

 

This interoperability Chainlink provides along with the dozens of partnerships (Google, Oracle) the project strategically announced, has helped the LINK token grow as high as $20 recently and reach the 5th place in cryptocurrency indexes as Coinmarketcap in terms of total market cap value.

 

Price explodes - Devs Selling

Recently there has been certain news about Chainlink developers dumping coins trough OTC and exchanges like Binance (source) using obfuscated mechanisms to hide the transactions. It seems that at least $40million was made so far. Without the need for such news, even if they are proven to be FUD, the fact is that Chainlink has over-performed so far. Also, the price seems to have started dropping after reaching $20 and a dip of 16% has occurred. 

Weekly Chart - Source: Bitcoinwisdom.io

Year to date, Chainlink is up by 1000% and as many DeFi projects it enjoys a parabolic rise currently but this is not a recommended buy on any case. A pull-back to 61,8% fib retracement would send Chainlink back to $7,60 which may be a good trading opportunity. 

The chart above is the Binance LINK/USD and you can observe that a few months ago it had a flash-crash on Binance and did reach $0,0001, where a lucky trader bought 900k of LINK for this price (source). 

 

 

Chainlink is really a good thing for us crypto users because it can make our work easier but we need to be careful because chainlink can also be a way of hackers to have access in our accounts.

[BTC Future 3946]

20 minutes ago, rekter said:

Huh? I need to do my TA again, i thought $14 would be a good entry, and if that fails, $10 would be the absolute bottom. I guess we shall see. I am not in it right now, nor do i have leverage short positions. In fact i wouldn't even mind if this thing just faded away.

Hm, I seem to used the flashcrash to $0,0001 on Binance for the TA.. I was zoomed in too and didn't read this.

On the 4H it seems that 50% fib bounced but I don't think it will hold. On the next wave we can reach $12 and $10 perhaps as the bottom. 

 

 It can go lower too it is useless anyway. Anyway I'm not a good trader so don't count on my opinion.

 

Edited August 22, 2020 by BTC Future

[Captain Karim 0]

I consider Chainlink to be one of the best and most used cryptocurrency projects, which is well supported by Chainlink whales, and the information that Chainlink provides for connecting between the outside world and the blockchain is a very important feature and at this time information is worth money.

[TimopheyKa 3900]

In fact, this is really a very interesting offer! The way the price has soared in a short period of time, really makes you think that the prospects of this coin are very much expected, and we can get a great result in the future! Thanks.

[Shaza Ahmad 1682]

What the Link team did when selling currencies on a weekly basis in the market, could have been done by any other team, and perhaps even before the success of their project, they tossed the coins into the market and disappear, as happened in many crypto projects, at least Link is a real and successful project.

[Cryptomint 433]

On 8/19/2020 at 4:05 PM, Mwangi said:

Wow that is one of the best artcile there is here online thank you for the so many advice and the information you have posted here, so thank you for even understanding the whole idea that is to welcome everything perfectly so we need to really define certain things that work for you

There are many and you will find more and more topics and also the topics which deserve the good reputation in this community..

[godislovefll 1880]

On 8/19/2020 at 4:57 AM, BTC Future said:

Chainlink was founded by Sergey Nazarov and had their ICO during the fall of 2017. 

 

What is Chainlink?

Chainlink is an Oracle. Meaning that they offer services to connect blockchains and transfer feeds of data from outside centralized sources into blockchains.

For example, DEX's (Decentralized Exchanges) require reliable data about the exchange rate between cryptocurrencies and fiat currencies. Chainlink takes reliable off-chain data from exchanges and inserts them on smart-contracts.

 

This interoperability Chainlink provides along with the dozens of partnerships (Google, Oracle) the project strategically announced, has helped the LINK token grow as high as $20 recently and reach the 5th place in cryptocurrency indexes as Coinmarketcap in terms of total market cap value.

 

Price explodes - Devs Selling

Recently there has been certain news about Chainlink developers dumping coins trough OTC and exchanges like Binance (source) using obfuscated mechanisms to hide the transactions. It seems that at least $40million was made so far. Without the need for such news, even if they are proven to be FUD, the fact is that Chainlink has over-performed so far. Also, the price seems to have started dropping after reaching $20 and a dip of 16% has occurred. 

Weekly Chart - Source: Bitcoinwisdom.io

Year to date, Chainlink is up by 1000% and as many DeFi projects it enjoys a parabolic rise currently but this is not a recommended buy on any case. A pull-back to 61,8% fib retracement would send Chainlink back to $7,60 which may be a good trading opportunity. 

The chart above is the Binance LINK/USD and you can observe that a few months ago it had a flash-crash on Binance and did reach $0,0001, where a lucky trader bought 900k of LINK for this price (source). 

 

 

It is incredible how big Chainlink has become, it is a cryptocurrency with many surprises, apart from the simple fact of being pumped and that it is a very fast network for something it is among the best cryptocurrencies.

[Abdul1168782 572]

Absolutely good project and you are right because this is also a good coin to chose for trading and investment because in this we can get good profit in short time. And decrease the feaar of losing money.

[abdullah553 1981]

On 8/19/2020 at 10:57 AM, BTC Future said:

Chainlink was founded by Sergey Nazarov and had their ICO during the fall of 2017. 

 

What is Chainlink?

Chainlink is an Oracle. Meaning that they offer services to connect blockchains and transfer feeds of data from outside centralized sources into blockchains.

For example, DEX's (Decentralized Exchanges) require reliable data about the exchange rate between cryptocurrencies and fiat currencies. Chainlink takes reliable off-chain data from exchanges and inserts them on smart-contracts.

 

This interoperability Chainlink provides along with the dozens of partnerships (Google, Oracle) the project strategically announced, has helped the LINK token grow as high as $20 recently and reach the 5th place in cryptocurrency indexes as Coinmarketcap in terms of total market cap value.

 

Price explodes - Devs Selling

Recently there has been certain news about Chainlink developers dumping coins trough OTC and exchanges like Binance (source) using obfuscated mechanisms to hide the transactions. It seems that at least $40million was made so far. Without the need for such news, even if they are proven to be FUD, the fact is that Chainlink has over-performed so far. Also, the price seems to have started dropping after reaching $20 and a dip of 16% has occurred. 

Weekly Chart - Source: Bitcoinwisdom.io

Year to date, Chainlink is up by 1000% and as many DeFi projects it enjoys a parabolic rise currently but this is not a recommended buy on any case. A pull-back to 61,8% fib retracement would send Chainlink back to $7,60 which may be a good trading opportunity. 

The chart above is the Binance LINK/USD and you can observe that a few months ago it had a flash-crash on Binance and did reach $0,0001, where a lucky trader bought 900k of LINK for this price (source). 

 

 

It is a really good currency. There is nothing wrong with a slight decline. This is financial markets that continuously rise and fall in order to ensure good profits.

[Syedbesharat 5423]

Chain-link is now tradable at binance and binance is doing their beat to promote this project and I am slow down recently because of current market volatility. Because the price of BTC is daily going up and down vertically. Their for I will observe this project and make trade on this because now the price is good for investment and trading. The price isn't rising like before and  now we can get profit from chain-link project. This project shows the potential  what could defi achieve. 

[yulitzacalvete 1366]

On 8/19/2020 at 4:57 AM, BTC Future said:

Chainlink was founded by Sergey Nazarov and had their ICO during the fall of 2017. 

 

What is Chainlink?

Chainlink is an Oracle. Meaning that they offer services to connect blockchains and transfer feeds of data from outside centralized sources into blockchains.

For example, DEX's (Decentralized Exchanges) require reliable data about the exchange rate between cryptocurrencies and fiat currencies. Chainlink takes reliable off-chain data from exchanges and inserts them on smart-contracts.

 

This interoperability Chainlink provides along with the dozens of partnerships (Google, Oracle) the project strategically announced, has helped the LINK token grow as high as $20 recently and reach the 5th place in cryptocurrency indexes as Coinmarketcap in terms of total market cap value.

 

Price explodes - Devs Selling

Recently there has been certain news about Chainlink developers dumping coins trough OTC and exchanges like Binance (source) using obfuscated mechanisms to hide the transactions. It seems that at least $40million was made so far. Without the need for such news, even if they are proven to be FUD, the fact is that Chainlink has over-performed so far. Also, the price seems to have started dropping after reaching $20 and a dip of 16% has occurred. 

Weekly Chart - Source: Bitcoinwisdom.io

Year to date, Chainlink is up by 1000% and as many DeFi projects it enjoys a parabolic rise currently but this is not a recommended buy on any case. A pull-back to 61,8% fib retracement would send Chainlink back to $7,60 which may be a good trading opportunity. 

The chart above is the Binance LINK/USD and you can observe that a few months ago it had a flash-crash on Binance and did reach $0,0001, where a lucky trader bought 900k of LINK for this price (source). 

 

 

The chainlink has very good potential and despite their news that may affect their reputation, it is seen that they do a very good job so it is a surprise to know this.

[jappy 1129]

On 8/19/2020 at 4:57 AM, BTC Future said:

Chainlink was founded by Sergey Nazarov and had their ICO during the fall of 2017. 

 

What is Chainlink?

Chainlink is an Oracle. Meaning that they offer services to connect blockchains and transfer feeds of data from outside centralized sources into blockchains.

For example, DEX's (Decentralized Exchanges) require reliable data about the exchange rate between cryptocurrencies and fiat currencies. Chainlink takes reliable off-chain data from exchanges and inserts them on smart-contracts.

 

This interoperability Chainlink provides along with the dozens of partnerships (Google, Oracle) the project strategically announced, has helped the LINK token grow as high as $20 recently and reach the 5th place in cryptocurrency indexes as Coinmarketcap in terms of total market cap value.

 

Price explodes - Devs Selling

Recently there has been certain news about Chainlink developers dumping coins trough OTC and exchanges like Binance (source) using obfuscated mechanisms to hide the transactions. It seems that at least $40million was made so far. Without the need for such news, even if they are proven to be FUD, the fact is that Chainlink has over-performed so far. Also, the price seems to have started dropping after reaching $20 and a dip of 16% has occurred. 

Weekly Chart - Source: Bitcoinwisdom.io

Year to date, Chainlink is up by 1000% and as many DeFi projects it enjoys a parabolic rise currently but this is not a recommended buy on any case. A pull-back to 61,8% fib retracement would send Chainlink back to $7,60 which may be a good trading opportunity. 

The chart above is the Binance LINK/USD and you can observe that a few months ago it had a flash-crash on Binance and did reach $0,0001, where a lucky trader bought 900k of LINK for this price (source). 

 

 

Undoubtedly, this cryptocurrency will become much more popular, it is incredible the way it has become popular and its demand rises, its network is good, without a doubt it will be the best cryptocurrency in the future.