There’s something oddly poetic about watching LINK supply vanish from exchanges, drip by drip, like the last few onions at closing time in a Parisian market. If you’re looking for excitement, try huddling over your keyboard and refreshing CryptoQuant every ten minutes-it’s like waiting for the bus but, instead of a ride, you get fluctuating numbers and the creeping dread you’re missing out.
Back in mid-2023, LINK was lounging around $6 to $7, contemplating its life choices. Now, only 161.8 million linger on exchanges-presumably clinging to fond memories of the “good old days.” If this dry-up continues, future generations will swap tales about “The Great LINK Migration,” while clutching their hardware wallets and reminiscing about when you actually had to sell a token to buy a sandwich.
Despite all this scarcity, LINK has done its best impression of a caffeinated rocket-up 230% since it languished in obscurity. Whoever said “what goes up must come down” clearly never met a crypto chart. The new rule is, “What’s left on exchanges… just goes up.”
If we see a buying frenzy, with traders foaming at the mouth and clicking “Buy” like it’s a competitive sport, prices might just moon. Not investment advice; unless your idea of investment is an emotional rollercoaster where all the safety bars have been replaced by Twitter opinions.
Profits So High Even Grandma’s Asking About LINK
Glassnode’s chart, which I imagine is less “high tech dashboard” and more “fortune-teller’s crystal ball,” tells us nearly 90% of holders are in profit. That’s right, practically everyone with a bag of LINK is feeling good enough to call their parents and brag, “Look, Mom, I finally did something right!”
However, here comes the plot twist: with all those unrealized gains, there’s always the chance people collectively decide it’s time to cash out and buy matching Teslas. But so far, everyone’s too busy daydreaming about yachts and refusing to sell-possibly convinced if they wait another week, Satoshi Nakamoto will personally deposit a Lambo in their driveway.
Open Interest: Or How Everyone Stopped Pretending to Work
Open Interest has ballooned from “barely significant” to “seriously, honey, cancel the vacation.” One year ago, we had about $115 million tangled up in LINK derivatives. Now it’s a whopping $1.2 billion, and the only thing rising faster is my anxiety about missing out.
It seems both institutions and retail folks are clamoring to get their hands on some LINK-partly because DeFi is cool again, and partly because saying “I’m an oracle investor” at parties guarantees at least one confused look and maybe a phone number. With partnerships sprinkled like cheese on every Web3 pizza, Chainlink has officially graduated from “that thing nerds talk about” to “that thing everyone pretends to understand.”
If you’re wondering about price, LINK’s at around $23-barely wobbled despite a month-long sprint that would embarrass most Olympic athletes. 48% up in a month. 118% for the year. At this rate, you’ll soon need binoculars just to keep up.
So, what’s next? Probably a spontaneous parade in honor of everyone who held onto their tokens “for the long run.” Or a crash. Or an NFT with your cat’s face on it. In crypto, only one thing’s certain: you’ll never be bored. 🛸
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2025-09-02 01:52