/biz/ - Business & Finance

https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xffec0067f5a79cff07527f63d83dd5462ccf8ba4

Note the complete lack of inbound transfers, you have to go digging just to find any examples at all.

So….. unironically two more weeks

>>50391981
But they're offering 13% APY! The LINK will start pouring in soon, surely!

If you add up both their wallets they have 1,073,723 LINK. They've already bridged from fantom, they've already pulled 400k from binance, they are clearly desperate to gather all their remaining liquidity together in these wallets as they bleed funds. It's very likely that they don't own LINK anywhere else or they would have already moved it. Between the 14th and the 15th, 44,451 LINK left the hot wallet, at this current pace they maybe have 3 weeks left, assuming they keep withdrawals open until they literally have nothing left (Celsius closed withdrawals way before this).

Cold wallet:
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xb60c61dbb7456f024f9338c739b02be68e3f545c

>>50392069
Yes, unironically 2-3 weeks. We said the same thing about Celsius and it actually ended up being true, I think the situation here is much the same.

>>50392116
Fucking sucks so bad these are just sells to keep their ponzi up
Fucking brutal for price action vs shorts and for those poor suckers getting muh 12% and never seeing their links again

Yes, but the most important question is, when link pump?

>>50391957
nice autism anon

>>50392116
>Yes, unironically 2-3 weeks. We said the same thing about Celsius and it actually ended up being true, I think the situation here is much the same.
Biz is wrong most of the time but ngl that was spot on. Impressive.

>>50392174
>poor suckers
The people who sent their cubes to these various lending platforms were essentially shorting Link. Indirectly yes, but the dog shit price action is their fault.
What I don't understand is why they are trying to still suppress Link. They've used up most of their ammunition and their operation has clearly failed. What have they got left to salvage?

>>50391957

I think its just all the faggot cunts that put their link on there for apy withdrawing to an exchange for storage. A lot of them aren’t comfortable holding their own coins it seems.

You have to remember nexo have never been subtle about anything they do. They always short from the same wallets, sent big transactions etc. its been leaked that one guy does all their trading.

No way thry would bother to try hide it like that. Its just users withdrawing.

>>50391981

I have been analysing all inbound transactions and pretty much all if them are Nexo themselves. They all work their way from places like Youhodler(which all offered more apy than nexo) which in Youhodlers case, i found Nexo depositing LINK on there last summer. Some anons May remember when i pointed it out back then. You can see that in these inbound transactions if you look.

Also bear in mind when they started trying to top up the wallet a few weeks ago it was via swarm transactions(hundreds ever minute all at the exact same time) of small amounts of link like 3 tokens, 46, 125 etc. this was them topping up with all their “dust” which they never needed to before. Thats a clue about how tight liquidity is.

So now they are doing sporadic inbound transfers with funds from Youhodler etc? They are REALLY scraping the barrel for tokens.

>>50392269
>What I don't understand is why they are trying to still suppress Link. They've used up most of their ammunition and their operation has clearly failed. What have they got left to salvage?
If they understand link then they grouped together celsius blockfi ... to short link starting from August 2020 and accumulate with private accounts. Make money shorting and buy cheap.

>>50392321
So the whole operation was to take Link out of the hands of biztards? If so that adds quite the nefarious layer to all of this.

>>50392381
Yup. "oops we're insolvent all your LINK is gone" meanwhile they filtered it all off to themselves. Robbed /biz/ blind with a paper promise of 10% APR. Fools.

>>50392096
13%?
How do I short nexo?

>>50392315
Yes, I didn't mentioned the swarm transactions because I didn't have the onchain evidence on hand, but this is absolutely true (most of what I'm describing is just rehashed from stuff other /biz/ anons have been saying anyway). This is why I think they truly have no liquidity left anywhere else that we aren't seeing. They've pulled from other ponzis, exchanges, dust wallets, they've pulled everything they've got into 2 wallets now, and they only have a few weeks of runway left.

The fact that they have 1 month lockups on crypto means we probably have at least another few weeks of continued steady withdrawals as people get out as fast as they are allowed. That's basically the only thing allowing them to pretend to be solvent at this point.

>>50392399
>>50392381
>>50392321
But why can’t they do this with any other coin?

>>50392399
If true then I can't even blame them. I said it years ago: why risk your golden ticket for 10% APY. It's idiotic.

So when the link runs out, what do we use to cope about the price doing nothing next link bros?

>>50392460
LINK's main unique characteristics are high liquidity due to no staking, combined with many long term holders not wanting to sell but still wanting to earn yield after waiting for years. This led to extremely low borrow costs on AAVE and other places, making it easy to short and perform a carry trade. Celsius was doing a similar thing with SNX and other defi tokens, but LINK stands out as having the highest marketcap. It's amazing we hit top 5 marketcap without essentially any retail need for the token, it was such a unique situation that it made it a prime target for shorting. With staking the chickens are coming home to roost though, people will be able to earn yield on their tokens without resorting to degenerate insecure lending practices.

>>50392503
idk considering that they will soon release staking and ccip i fully expect ww3 to start
>sergey formally announces staking is out
>US and russia nuke each other, worldwide nuclear fallout keeps the world in a dark age for a century

>>50392460
1. Most other coins are worthless dogshit 50%+ of the supply of which is controlled by VCs
2. Link holders, bored to death and savvy enough to use lending platforms, together created massive pools of Link that ended up in the hands of Nexo, Celcius etc. Other crypto communities didn't do this to the same extent as chainlink holders. It's unironically Twitter marines fault.

>>50391957
If you aint holding your link you smell bery nice

If you aint holding you link you smell very nice

>>50392315
>I have been analysing all inbound transactions and pretty much all if them are Nexo themselves.
For anyone wondering, this sounds like shilling but it's actually true.
You can see the transfer counts here: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xffec0067f5a79cff07527f63d83dd5462ccf8ba4#tokenAnalytics

For example, for today and yesterday, there's a total of 13(9+4) unique addresses sending link to this wallet. At the same time, they sent out link to 201 (88+113) unique addresses.

These are the 4 incoming transactions for the last 24 hours:

1)https://etherscan.io/tx/0x5ca87a7bcc11b63c5115bbfc717158226bef900ca306bab82a12102e39dc5f4f
2)https://etherscan.io/tx/0xf31098697101584a79f7f2fa3cebfcd5baf1bb033f89a717ee3b7eebeb34ebdf
3)https://etherscan.io/tx/0x174f62577961f1b7a59b5dc8fca1d3655562cbef2fe48257fd06e29371c45920
4)https://etherscan.io/tx/0xbca705eae1098def40a4f3abb9ac03dcef25970546de52dff64c17891bba6dab

For a total of 3601.x LINK.
Withdrawals from this address in the same period (last 24hrs) totals around 69272 LINK.

Nexo is absolutely fucked.

>>50392269
Its more likely to be angry anons who got wiped out on aave or who lost their stacks on bnt/celsius trying to fud their way to a low rebuy price

https://cryptoquant.com/asset/link/chart/exchange-flows/exchange-reserve?exchange=all_exchange&window=DAY&sma=0&ema=0&priceScale=log&metricScale=linear&chartStyle=line
meanwhile, the total exchange supply keeps on climbing

>>50392515
>>50392547
So they really dont want biztards in their club and this is how they did it. Maybe Sergey really was involved? Maybe it really was all just a test to separate the wheat from the chaff of the link holders like one anon said?

>>50391957
>100K Link a day
So Monday

>>50392911
No, read the rest of my posts. It's not 100k a day and there are roughly 1 million LINK in their control.

>>50392841
that’s exactly what it was. congrats to all who passed the test

>>50392785
Yeah because those cefi exchanges need to sell their linkies to stay afloat. Are you fucking stupid?

>>50392960
it’s fake anyways, glassnode shows all time high exchange withdrawals these past few weeks

>>50392503
Kekked hard. Exactly
This will go down in the books like all the other nothingburgers. I outright refuse even to consider the remotest chance of anything ever fucking happening. Triple figures in 3 years time, we all know it, this cope doesn't work for me

>>50392989
you’ve been given the gift of single digit link at the expense of retards who deposited in these CeFi platforms. if you’re not adding to your stack here you’re as retarded as the CeFi depositors

>>50392918
Okay 2 more weeks then and nothing ever happens

>>50392381
I don't think it's as deep as that. They could just make a lot of money borrowing/shorting link as it was dirt cheap to borrow

>>50392985
https://app.santiment.net/studio?settings=%7B%22slug%22%3A%22chainlink%22%2C%22ticker%22%3A%22LINK%22%2C%22from%22%3A%222009-01-01T01%3A00%3A00.000Z%22%2C%22to%22%3A%222022-07-16T20%3A59%3A59.999Z%22%7D&widgets=%5B%7B%22widget%22%3A%22ChartWidget%22%2C%22metrics%22%3A%5B%22price_usd%22%2C%22supply_on_exchanges%22%2C%22supply_outside_exchanges%22%2C%22percent_of_total_supply_on_exchanges%22%5D%2C%22axesMetrics%22%3A%5B%22price_usd%22%2C%22supply_on_exchanges%22%2C%22supply_outside_exchanges%22%5D%2C%22colors%22%3A%7B%22price_usd%22%3A%22%2326C953%22%2C%22supply_on_exchanges%22%3A%22%23FF5B5B%22%2C%22supply_outside_exchanges%22%3A%22%23F47BF7%22%2C%22percent_of_total_supply_on_exchanges%22%3A%22%23FFCB47%22%7D%2C%22combinedMetrics%22%3A%5B%5D%7D%5D
cope harder

>>50392946
:,)

>>50392989
You are a fool to believe nexo collapsing will do anything to the price of LINK. We are simply celebrating the downfall of a platform that has been fucking linkies over for years what with the Zeus Capital fud and the mass shorting of the token. I want to see the bulgarians squirming

>>50393071
And before they shutdown, viewbase had the exchange supply at 110M which is a number nowhere to be found in your Santiment chart. the lesson here is that all of these free sites give you junk data.

>>50392116
Ok? You think 1MM Link is much?
What are you on? Can I have some?

Im sitting on 400K linkies and my frens are on the same level. Didnt you boughtededed while it was .12 on etherdelta?fucking poorfags shitting up this board. As always.

>>50392989
>3 years
That's an interesting take. Do you think that staking, CCIP etc will have little effect on the token price in the near future, then? Are these forthcoming developments 'priced in' and I'm a 'retard' for thinking otherwise?

>>50393145
viewbase was never considered a reliable source, they did not account for certain cold wallets
now do you have ANY evidence pointing to both cryptoquant and santiment having the wrong data?

Sergey not releasing staking during this purge of CEFI makes a stronger case he was involved in all of this. He would btfo all of these platforms but refuses to green light v0.1

>>50393245
yes, go look at glassnode. an analytics people actually use.

>>50391957
LINK.IS.A.SCAM.THE.TOKEN.ISNT.NEEDED

>>50393356
analytics tool*

>>50393245
Do you have any proof that they are reliable?

>>50392460
Why would you want anything else?

>>50393287
>Sergey not releasing staking during this purge of CEFI makes a stronger case he was involved in all of this. He would btfo all of these platforms but refuses to green light v0.1
Is this your attempt at fud? It’s terrible. Do you not remember the time Sergey frontman all those assholes by announcing staking before consensus? Of course you don’t.

>>50391957
>There are anons on this board that not only held their Link on Nexo for two years despite all warning but still hold their Link there now.
I hope the traitors lose everything

>>50393211
haha yeah dude
You know that binance scam wick back in march 2020?
I scooped it all up and have 10 bajillion zillion link now.
So do all my friends (I have many friends too)

>>50393386
There’s like 20k cryptos out there. I’m sure they can find better coins to do so. It’s weird to me they would specifically target link.

>>50393356
glassnode metrics for LINK exchange supply haven't been updated since July 2021
nice try though
>>50393380
compared to glassnode data, which is stuck in 15th July 2021? yeah, they're much more reliable

>>50393490
https://youtu.be/0ufv37jYncU
19:00 mark. now fuck off

>>50393490
You're looking at the freely available data. It hides the last year behind a paywall.

>>50393439
Ok retard.
Stay poor

>>50392946
god damn its been a stressful test though having not sold much at $50 but at least it seems like its almost over?

It appears that Nexo is insolvent.

>>50391957
two more weeks guys!!!

>>50392989
youve been saying triple digits for almost 5 years now

>>50396672
whoa, someone on 4chan said THAT???

>>50392381
Super low interest rates on aave and shit

>>50393406
One thing I actually don't understand is how all of the exchanges that link liquidations have cascaded through were actually willing to crash and burn their companies and thousands of customers, merely a few years before we would see Link absolutely take off?

They can't be that dumb right? Did all these VC's simply have zero faith in Sergey / Chainlink? It will be interesting to see how Sergey addresses the likes of Bancor and Celsius, who he stuck his neck out for, for years.

>>50397570
>They can't be that dumb right?

>>50397570
>They can't be that dumb right?
You are talking about people that shorted the Chainlink top during a crypto cycle top during a stock bull market easy money environment, and then thought doing the exact same thing at $10 LINK during a crypto crash during a stock crash with rising interest rates would be the exact same strategy with no difference in outcome. They have no brains, just greed.

>>50397570
Its not necessarily that, one thing people often underestimate is the power having a large starting position and being already wealthy gives you. For the same reason anons with 10k link don't usually bother with shitcoins anymore because they no longer need a thousand or ten thousand x to make it, wealthier entities aren't pressured to hold link when its not even feature complete and still years away. They may miss some of the speculative pump (though not much so far, only the initial 30x right now), but in the meantime they can make more money elsewhere controlling the markets and running the casino.

Now if some event happens where the casino blows up, and crypto is forced to grow up... and/or if some event catalyzes the need for link tokens in some real world adoption usecase, in one of those scenarios you'd see everyone swarm into link. But until then, anons are forced to sit on their hands and wait for the most part, you can take some profits, but trying to time the market with a large part of your stack is playing russian roulette with what is likely a winning lottery ticket .

>>50397628
>>50397652
Not going to pretend I didn't have a visceral hate fume reaction to listening to Machinsky speak, but Bancor at least *seemed* reasonable. We have to acknowledge that Sergey incubated these companies and gave them seats at his conferences, in a way it almost seems like a hit job on Chainlink's reputation as they have been close affiliates touting chainlink tech in their stacks

>>50391957
Why are you pushing this narrative on a zoomed in graph? Zoom out and see that this decline us hardly unprecedented
Also, fuck NEXO.

>>50397713
Because it is unironically different this time. With cefi platforms all dying, Nexo is one of the few remaining, and users want to get the fuck out. Combine that with the fact that Nexo has pulled LINK from wherever it had it parked across defi, all into one place, and it's clear they are on their last legs.

>>50395185

>>50397570
CeFi platforms that hold your tokens and give you interest on them have two options -
don't accept LINK
or
accept LINK, immediately sell it and buy some yield generating asset/shitcoin.
During the bullrun there was money to be made by going for 2 while making sure LINK underperforms by whatever means. They weren't stupid, they were just paying the bills quarter by quarter while skimming a billion off the top here and there.
Then the music started dying down. And here we are now.

>>50392381
>So the whole operation was to take Link out of the hands of biztards?
always has been

>>50398066
top wallets that aint sergey or exchanges are still accumulating and growing. never stopped

If Cefi platforms didn't short link for the past 2 years or so, would link be triple digits by now?

>>50399085
Went to the top 5 in mc with ease the last time the cefi shorts were liquidated

>>50399106
So all those anons that deposited their link tokens to these Cefi platforms are the reason for the horrible price action? In that case, I hope they all lose their holdings, a true cleansing!

>>50399163
Not alone, and they got a shit deal, 12% if they take cel or nexo and buy that shit, laughable for the risk to profit. Others just used the opportunity to enlarge their principal, or would you let go of an opportunity to increase your holding 20x taxfree

>>50399242
>they got a shit deal, 12% if they take cel or nexo and buy that shit, laughable for the risk to profit.
It is amazing to me that the depositors weren't able to see this. I am beginning to understand why ((they)) see us as dumb animals.

>>50399293
Opinions like the above are ten a penny after the fact. If we rewind the clock a few months it was full of anons bragging about getting into liquidity pools and how much money the'd made. Now you get comments like "it's amazing no one could see this". I didn't get involved just in case (golden ticket and all that) but the truth is it wasn't really very obvious at all, and to imply it was is just bs

>>50399293
Hindsight is 2020, especially if a minority read the contract they were entering. I just don't get how nobody of them platforms thought about hedging their risk

>>50399355
>anons bragging about getting into liquidity pools and how much money the'd made.
That was Nexo/bnt/etc marketing. This goes back to the Zeus thing, maybe longer.

>>50399355
Liquidity pools are not the problem, not even cefis methods of creating yield, the game isn't over, some players were just over leveraged and applied shit risk management, same goes for the users. In the end nothing happened

>>50399383
>was Nexo marketing
Clearly it wasn't just marketing, since many people lost loads of Link when it collapsed. It worked for a while for many

>>50399410
>over leveraged
what are you talking about? People lost 50% just for withdrawing

So assuming that nexo does go down in 2-3 weeks, link's price action should be more energetic correct? I'm not saying it will suddenly go to Tau Ceti V, but a more lively uptrend, especially once staking releases, which gives the token actual yield and utility.

>>50399421
The spruiking was marketing, particularly the posts about how easy, safe, how much they were making etc

>>50399434
Oh you mean bnts impermanent loss protection scam. Il is real, its a risk you have to manage individually in amms, anybody that did his due diligence knew that, and even the bancor pools were not always bad, that is just plane wrong

>>50399445
Don't get your hopes up, Manvinder.

>>50399445
If the lovely hopium thread from the other day is even half true it could be very interesting after staking.
>The decentralized space has never experienced a combined multifaceted single asset supply crunch at the same time as that asset increases demand through passive income. In an asset that offers passive income this generally results in one outcome: extreme price action that vastly outstrips appropriate valuation based on revenue and an eventual bubble. This bubble, for the above reasons, will be at least one order of magnitude greater than what was seen with eth in 2017.

Expect the following:
- Within the next year link above 300 with retail level staking yields through established nodes of 2-3%, 5-8% for new nodes looking to build reputation
- Within the next three years link topping out between 4,000 and 12,000 with retail yields under 1%
- Once the retail yield of link stays under 1% for 3 months, consider selling some as a significant drop of over 80% will occur
- The market will then mature with data based multivariate models and will grow at rates similar to f500 indices while also offering low (1-3%), predictable yields

>>50399487
Why is Sergei pictured with Nexo and Celsius?

>>50399524
>why sergey
It's the latest fud that he was involved in the whole thing and therefore doesn't care about the community. Yawn.

>>50399537
He did. Increasing circulating supply by 50% in a year ensured high liquidity and made the short play even possible

Line going down. Must be bad.

>>50399487
>Bulgarians don't know how to use transparent pngs or anything besides paint
Just look at the average link meme's quality compared to this and tell me that this poster isn't just trying to sow dissent.

>>50399568
He didn't. There is loads of the circulating supply will be tied up in staking. You're salty because you lost a load on celsius/nexo, aren't you? well, ha ha.

>>50399622
He did support that play if you like it or not. Out of necessity to have the market position they have now, but its undeniable that Sergey acting like the fed QEing made it more attractive to short link
Also no, not a cent in cefi

>>50399705
it's unfortunate that you lost all of your link in a ponzi. i hope you will find peace one day. this is not necessarily the end for you.

>>50399735
Are you a bot? I have 20 times more Link then I started with.

>>50399705
The team dumps were always planned and were to fund development an payroll. I know you know this and are trying to change the story to make it seem otherwise. You should just give up, because none of us are selling and we're all going to be rather wealthy soon. Also, we love Sergey Nazarov and your lies are lile water from a duck's back. Seethe harder :)

Bed time here. Goodnight my beautiful marines. WAGMI

>>50399769
You misunderstood, Sergey did factually supported shorting Link as the rational play with his actions, not saying he did it on purpose or colluded with mashinsky and co, but you have to be really fucking dense to assume he wasn't aware of the reactions to his actions

>>50399477
it's going to be pretty hard to hold till $4k

>>50399811
If some terrorist learned how to make a bomb from searching how to do so on google, is google to blame?

>>50399856
Most will sell at 100 and 1000. This is definitely a long term game.

>>50399867
No, but google facilitates it, and assuming google not being aware that terrorists might look up how to cook explosives on google is naive. The hope is not too many do it for it to become an issue

>>50399872
Speaking of selling, what would be the smart play in regards to utilizing all that newfound capital? Just dump it all in VOO? Dividend etfs?

>>50395185
it has been. the most painful part of it is probably over. but if i had to guess we have another world changing black swan type event coming up to coincide with a markup in LINK price, just like they did with COVID. doing this ensures that the normies are too distracted by the event to care about what's happening with LINK. if i had to guess we're at the beginning of a rally back to double digits, maybe $10-$11 range, then black swan event to crash the markets sending LINK back to $5ish, then link decoupling and pumping while the world is losing their mind over the cyberpandemic, nuclear war, poxvirus, new COVID variant, or whatever (((they))) have in store.

>>50399904
Not sure exactly yet, that’s what I have been researching in what good plays are once we have all this money. What do you think of this picture I just made anon?

>>50391957
It's possible people who are using Nexo are too stupid to use their own wallet, and chose to withdraw their token into their exchange account.

>>50392116
Did you take into account this wallet on Avax?
https://snowtrace.io/address/0x6914fc70fac4cab20a8922e900c4ba57feecf8e1#tokentxns
It has 500k LINK on Aave.

It's still strange that they bought back 400k LINK from Binance.
This means their situation is worse than it seems or they reduced their short with an expectation for future withdrawals.

Just a bunch of weird fantasy's in this thread. $4000 - $12000 link? Complete delusion.

t. 2018 Linker.

>>50400043
Interesting, did you know that Nexo is insolvent? Also if you’re an original 2018 buyer than tell me something that was happening here in that time that doesn’t happen anymore.

>>50400043
Yes I know Nexo is insolvent. Good Larps - drunkanon, ass blaster, landlord anon, whale killer anon, bit advisor.

And how should I know you're not throwing out completely ridiculous numbers in an effort to demoralize everyone?

HAS THE SQUEEZE BEEN SQUOZE FELLOW RETARDS??

>>50400043
>og linker here

>>50399943
its all so tiresome

>>50400043
You would know then that the price target was $2000-5000 without CCIP.

>>50392096
13% APY? where do i sign up??

>>50391957
>within a couple weeks
kek.

>>50399487
This meme is shit quality. You couldn't take the extra two seconds to clean it up?

>>50400448
TIMO YOU RAT

>>50400021
any confirmation that that wallet belongs to the Bulgs?

>>50402317
The same wallet address on ETH L1 has a large transaction going directly to the Nexo corporate treasury

>>50400021
Good catch, I didn't take this into account. Seems they have more liquidity than I thought but their odd actions since Celsius halted withdrawals still remain.

>>50399458
I believe that. Whenever someone is bragging on /biz/ about a decision they made, it's 99% paid shilling. This is the buy high sell low board and don't let anyone tell you otherwise.

>>50401248
He's paid minimum wage to make it, anon. He's probably overworked and demoralized. Leave him be.

>>50396323
I think so too, failure of some centralized pa\layers just proves why a non-custodial approach is necessary

>>50400043
>fantasy's
your spelling is a weird fantasy, dude. You should go back to grade school and quit larping as a Link fudder. Also, youre obvs quite green since you don't recall the price action taken by other crypto in the past. With the value proposition of Link, it could easily happen
>inb4 but that would mean a market cap of $4 trillion plus
That's not how market cap works. As I said, go back to grade school and sort the spelling. You need to work on your basics

>>50403091
Ok, so all the people who lost half a load of link on these platforms.. none of them talked on biz about the return they were getting for commiting their tokens. All of them kept silent and the only ones who ever mentioned the APR they received were paid shills. Gotcha.

>>50396685
Kek