RATE Group | First Mover: Chainlink ‘Marines’ Are HODLing and Here’s Why You Should Care
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First Mover: Chainlink ‘Marines’ Are HODLing and Here’s Why You Should Care

28 May First Mover: Chainlink ‘Marines’ Are HODLing and Here’s Why You Should Care

Posted at 22:47h in Cryptocurrency News by

Bitcoin is so speculative and volatile that it doesn’t deserve to be considered an asset class, according to Goldman Sachs.

Diving deeper into the realm of the more than 5,000 cryptocurrencies in existence, things get even more speculative – with traders often jumping on fast-moving and thinly traded tokens for a quick profit and then quickly moving on to the next hot trade. 

That’s why it’s so notable that holders of one token, Chainlink (LINK), appear to be in it for the long term. 

You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You can subscribe here.

Data extracted from the underlying blockchain and cryptocurrency markets reveal declining balances of the token held at exchanges. In the…

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