IntoTheBlock has noticed something strange with Chainlink’s addresses. It says all accounts under Chainlink have appreciated as a result of its recent bull run.
While other cryptocurrencies are recording two-digit profits, Chainlink has recorded three-digit, that is 100%.
This means presently, all LINK owners bought their assets at a lower price than what they have now. They would have been at a loss if the LINKS they now have were lower than the quantity they bought (out of the money).
Comparing Chainlink with Bitcoin and Litecoin
Since all LINK tokens are in profit, they are also said to be “in the money” Other assets in the money include Litecoin (47%) and Bitcoin (90%).
Although Chainlink’s recent performance is making everyone happy, it has thrown many analysts into confusion. What looks inexplicable is how 100% of its addresses are currently in profit. Since in a given trade, someone buys and the other sells, some addresses should at best be at the same price when the LINKS were bought.
There are two likely possibilities to this scenario. The first is that exchanges probably only raised the price expecting investors to buy but they really did not. The second possibility is that some addresses were not actually in the money but because they were very few, they were approximated to zero. IntoTheBlock is being expected to give more clarification about its findings soon.
There is nothing difficult to understand about the price rally of Chainlink. It is quite expected of it to appreciate because of the numerous achievements and partnerships it had not too long ago. For example, it is making plans to sponsor various blockchain projects.