Chainlink

MN Coin

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 </figure>On-chain analytics firm <a href="https://twitter.com/intotheblock/status/1666724108069945344">IntoTheBlock</a> notes that a high percentage of Chainlink holders — 88% — are in the red. It says that this is reminiscent of early 2023 levels, which might suggest an incoming price bottom.Looking at the global In/Out of the Money may be necessary to zoom in on the 88% of holders that IntoTheBlock claims are in the red.<blockquote class="twitter-tweet">Currently, 88%+ of <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw">#Chainlink</a> holders are in the red, reminiscent of early 2023 levels. Is this another bottom? We'll dive deeper into other metrics for a holistic view. Stay tuned for our in-depth analysis.<a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> <a href="https://t.co/IMCa9cz8AL">pic.twitter.com/IMCa9cz8AL</a>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1666724108069945344?ref_src=twsrc%5Etfw">June 8, 2023</a></blockquote>The Global In/Out of the Money from IntoTheblock classifies addresses based on whether they are profiting (in the money), breaking even (at the money) or losing money (out of the money) on their positions at the current price.Based on this, 11% of Chainlink holders are in the money that is in profit. Two percent are breaking even or at the money, while 86% are losing money or out of the money on their positions at the current price.The breakeven price indicator gives a breakdown of the number of addresses specified in each of these categories.A total of 112,390 addresses, or 17.65%, have realized gains or are in profit. The amount of 510,020 addresses, or 80.11%, are in losses. Meanwhile, 14,250 addresses, or 2.24%, are at breakeven. This implies they are neither in losses nor profits.At the time of writing, LINK was down 1.63% in the last 24 hours to $5.99. The cryptocurrency market held losses on Thursday, following the U.S. Securities and Exchange Commission's (SEC) crackdown on heavyweight cryptocurrency exchanges Binance and Coinbase at the start of the week.Chainlink's big moment of the week came as Swift, the interbank messaging system, announced its collaboration with Chainlink and dozens of financial institutions to test interoperability and connectivity with multiple blockchain networks.

88% of Chainlink (LINK) Owners Losing Money as Price Approaches Critical Level

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