/biz/ - Business & Finance

>>52542816
Binance saw Chainlink as their competitor until this week when they announced using it on the BNB chain.
The goal of a whale is to force their competitors into a position of weakness, because they hope to get to buy them back for a cheap price.
That was the goal of CZ's announcement of "helping" developers through Binance Labs.

It will take a few weeks at least to see how everything which happened this month affects the future power dynamics.
But what we can expect now is the shorting CeFis will stop shorting so heavily most tokens including Chainlink.
Binance will be less predatory against Chainlink in the future.

Chainlink should have a major year in 2023.

>>52542693
As for the 50 million token announcement they moved around 18 million of them to Binance at the end of August, but this added liquidity seems to have been mostly quickly removed in 1 month.
Those token were likely sold OTC to Chainlink's partners and they should have some form of vesting schedule in that case.
A real partner which expects to grow their business with Chainlink should have similar 5, 10 and 15 year plans for their business and not behave like Sam dumping the next second on an exchange.

I don't have the update chart with the data for last week but the Chainlink reserve on exchange on the 15th of November decreased to a similar level as what we saw in December last year.
Of course this is partially caused by the exchange run and people withdrawing their token, but this displays a change of dynamic which last happened in the opposite direction end of December 2020 before the bull run when the BTC bull run started.
The crypto bull run last year was heavily impacted by the derivative market which allowed institutions to manipulate the price and move the money flows away from the real spot holdings and into fake paper products.