Be Cautious (reasonable chainlink fud)

[Anonymous No.14408681]

First of all, I would like to state that I believe chainlink is proven use of blockchain technology that can revolutionize the financial industry. The Google Cloud Platform blog post detailing chainlink use case proves the utility of link.

That said, I think link token has a velocity issue. **Only 35% of the tokens are in circulation.** Chainlink team owns a large portion of tokens. As the team sells to tokens to continue operations, the price of the token will decrease. If we count all of the tokens link has, it's current valued at around 1.8 billion dollars.

That's larger than many companies with that make millions in profits every year. This valuation isn't backed by significant usage of the network. Instead, it is mostly people making predictions like "investing in chainlink is like investing in Google IPO".

The current market cap, which is calculated based on the circulating supply is about 642 million. But the network utilization of link tokens isn't even 1 million a year. The current price is not sustainable. It will definitely go down in the next few months unless speculators continue to put more money into it.

This is why I am making this informational post to link holders so that they have a proper understanding of the situation. The price could pump to 3$ if speculators put more money into it. But it could also dump if speculators dump.

It wouldn't be unreasonable if link lost 70% of its value since most of its value comes from speculation. Something like this has already happened once. It could happen again.