, the decentralized oracle network, has been in a peculiar state for the past 500 days. The term"crab market" is often used in the crypto community to describe an asset that moves sideways for an extended period, neither showing significant gains nor losses.Analyzing the price performance of Chainlink over the past year and a half reveals consistent sideways movement. Starting from March 2022, LINK's price hovered around $15.12, peaking briefly at $16.49 by the end of the month.
This continuous sideways movement can be detrimental for a digital asset. It can lead to decreased investor interest, reduced trading volume and even speculation about the asset's future. Prolonged periods of stagnation can also give rise to theories about price manipulation by third parties. While there is no concrete evidence to support such claims forChainlink's use cases, however, remain robust.
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