when

Chainlink

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/chainlinks-circulating-supply-dynamics-and-price-implications/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Chainlink’s Circulating Supply Dynamics and Price Implications</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/bu-altcoin-57-dolara-kadar-dusebilir" data-wpel-link="internal" rel="noopener noreferrer nofollow">Chainlink</a> (<a href="https://coin-turk.com/binance-chainlink-yatirimcilari-icin-mujdeyi-verdi" data-wpel-link="internal" rel="noopener noreferrer nofollow">LINK</a>)</strong> experienced only a 1% growth compared to the previous month, which is a noticeable deviation from the broader market trend that observed unprecedented peaks during the same period. A significant decrease in dormant circulating supply, combined with the lowest level of weighted trust, could shed light on the prevailing market sentiment and provide clues about possible future directions.</p>
<h2 id="link-s-circulating-supply">LINK’s Circulating Supply</h2>
<p style="text-align: justify">Between February 6 and March 3, the dormant circulating supply for <strong><a href="https://en.coin-turk.com/chainlink-link-price-analysis-will-the-price-continue-to-fall/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Chainlink</a></strong> witnessed a significant increase from 257,000 to 714,000 over a 180-day period. This substantial growth could indicate a strong accumulation phase among investors or a consistent holding pattern. This could imply a collective expectation for future price increases or suggest a belief in <strong><a href="https://en.coin-turk.com/chainlink-the-future-of-payment-systems-and-its-recent-surge/" data-wpel-link="internal" rel="noopener noreferrer nofollow">LINK</a>‘s</strong> long-term value. The behavior suggested by this metric during the specified period indicates a clear preference for investors to hold onto their assets rather than sell, waiting for potential gains or believing in Chainlink’s fundamentals.</p>
<p style="text-align: justify">However, on March 6, the scenario took a significant turn when the dormant circulating supply sharply dropped from 570,000 to 70,200, a decrease of 87.68%. This rapid decline indicates that a significant portion of <strong>LINK</strong> that had been inactive and not involved in any transactions for more than six months suddenly became active. The activation of a large amount of previously dormant LINK could mean a significant change in investor sentiment or strategic movements in the market.</p>
<p><img loading="lazy" decoding="async" loading="lazy" class="size-full wp-image-324233 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/link.webp" alt="" width="850" height="288"></p>
<h2 id="link-s-price-forecast">LINK’s Price Forecast</h2>
<p style="text-align: justify">The concept of dormant circulating supply, especially when observed over a 180-day period, can provide insights into the behaviors of long-term holders in the cryptocurrency ecosystem. However, the sudden and significant drop on March 6 could lead to increased selling pressure in the market. On the other hand, a decrease in sentiment could indicate a contraction in investor enthusiasm, which may reduce buying pressure and thus create a downward force on <strong>Chainlink’s</strong> price.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/chainlinks-circulating-supply-dynamics-and-price-implications/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Chainlink’s Circulating Supply Dynamics and Price Implications</a></h5>

Chainlink’s Circulating Supply Dynamics and Price Implications

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