The month-long drop in the LINK token seems to be coming to an end. At least this is the conclusion reached analysts Santiment. According to them, the activity in the form of LINK deposits on exchanges signals the surrender of the community. Panicked investors are selling tokens, which means the LINK dump is complete, experts say.
Moreover, panic in the community is signaled by the Network Profit and Loss Ratio (NPL). Along with the activity on the stock exchanges, a negative outbreak of NPL was noticed. This means that the average losses on LINK transactions against the background of exchange activity were higher than usual.
Significant NPL losses, coupled with spikes in stock market inflows, could indicate crowd fear, which is good for LINK’s price, Santiment said. However, there are also bearish signals. For example, the number of active daily addresses on the Chainlink network has dropped significantly compared to this spring.
At the time of this writing, the network recorded 5.4 thousand addresses. For example, back in April, the same figure was 13,000 addresses. In addition, the weak activity of creating new addresses in the Chainlink network gives negative signals.
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