An Intelligence firm dubbed IntoTheBlock has revealed that Chainlink’s bullish run is experiencing an awe-inspiring moment where a 100% of its supply is profitable. This state of being is one of its kind as it is very unusual for any asset to have its entire supply simultaneously bearing profits.
It appears that the latest Chainlink (LINK) rally has led to the unprecedented outcome as described above- its entire supply being “in the money”. What this means in essence is a relationship between the asset’s present selling price and the price it was purchased.
A higher present selling price would mean it is “in the money”, a lower present selling price would mean it is “out of the money”, and if both prices are the same, it means it is “at the money”.
IntoTheBlock has highlighted that indeed 100% of Chainlink’s supply is ‘in the money’. To make this hit home, approximately 90% BTC supply is currently in the money and merely 47% of LTC is presently in the money.
What is astounding is how 100% of addresses of a digital asset is concurrently profitable. This is very rare for any asset. When looking at it, every dealer needs a purchaser and a vendor, so basically, only a number of addresses should be ‘at the money’.
Alfredo Terrero, IntoTheBlock’s COO and Co-Founder has stressed that:
“Since LINK has reached all-time-high prices, there will be a very small proportion of users that bought at the margin, that is, at the ATM. These addresses are usually in exchanges and are not statistically significant, therefore they are not reflected in the indicator.”
This positive turn of events is not far-fetched as Chainlink has revealed a number of strategic partnerships, incorporations and achievements.
Just recently, the project heralded a grant program that will bestow monies to other programs that will facilitate smart contracts into becoming “the dominant form of digital agreement”.