Chainlink: 62% of holders ‘in the money’ as LINK hits 6-week high

LINK remains at risk of decline as the current buying pressure is not strong enough to sustain the ongoing rally.According to the on-chain data provider, during the intraday trading session on 23rd May, the altcoin briefly exchanged hands at $17.53 before witnessing a slight retraction. A

AMBCrypto assessed the ratio of LINK’s daily transaction volume in profit to loss and found that it was 11 on 23rd May. This signaled that for every LINK transaction that ended in a loss during that trading period, 11 transactions returned a profit.Further, the token’s Market Value to Realized Value ratio was 71.56%. This suggested that LINK’s market price was significantly higher than the average acquisition price across all holders.

Currently, 432,000 wallet addresses, which make up 62% of all LINK holders, are “in the money,” according to IntoTheBlock. These are investors who hold the altcoin at a profit.

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