Supply Shock Alert: Chainlink (LINK) Supply on Exchanges at 4-Year Low, Pullix (PLX) Presale Allocation Ending Soon

January 22, 2024
3 min read

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Top crypto token and Oracle service provider, Chainlink (LINK) faces potential supply shock as LINK supply on exchanges hits the lowest in four years. Meanwhile, while LINK new reality unfolds, investors are seeking fresh initiative to divest just as the year kicks off. 

Amidst a sea of cryptocurrency initiatives, Pullix stands out for its unique approach to addressing a common issue that many exchanges face: the limitations imposed by liquidity. Moreover,  Pullix's hybrid approach promises to bridge the gap between decentralized and centralized exchanges while also unifying liquidity provision across the board , further positioning it among the best new crypto to invest in right now. 

Chainlink (LINK) Maintains Stability Amidst Hint of a Supply Shock: Can LINK Stay Positive for Long?

Supply shock is an event that suddenly increases or decreases the supply of a commodity or service. Unfortunately, Chainlink (LINK) may undergo such an event as it faces a major decline in its token supply across exchanges. According to multiple reports, the oracle service provider’s native token supply hits the lowest in the last 4 years.

If the current trend persists, then it's safe to say that Chainlink may undergo a supply shock in the near future. If that be the case, the effect of such an event can either be positive or negative: although, in most cases, it is usually the two taking place concurrently.

A supply shock could easily result in the appreciation of LINK price. What this means is that, with limited token supply comes scarcity, and as such, the few tokens in circulation are priced higher for those who can afford it. 

On the other hand, LINK token tends to face massive volatility as it is currently undergoing, and in an extreme situation, trading and liquidity issues. In other words, a supply shock for Chainlink may be viewed as a concern if it leads to difficulties in obtaining or trading LINK tokens.

Nevertheless, with more than 8% gains in the last month, Chainlink has recently attracted the attention of investors. Particularly, LINK price rose beyond $16 on Monday, January 17, but then saw a steep dip that places the weekly decrease at about 2%. As of this writing, it has a market cap of $8.58 billion and trades between $15 and just over $16.

Pullix (PLX) Gains Investor Interest as Presale Allocation Nears Completion

Tokens like Chainlink face a supply shock, leading to challenges for investors due to limited token availability. This necessitates buyers to explore multiple exchanges to acquire such tokens. To address these challenges, Pullix introduces a hybrid marketplace that serves as a liquidity aggregator for crypto projects. Users can access a diverse range of assets and trade seamlessly after signing up.

Besides tackling liquidity challenges prevalent among decentralized exchanges, Pullix also stands out for addressing other key issues such as inflated commission and limited leverage. Particularly, Pullix offers zero commissions with tight spreads which are transparently visible on the platform. Likewise, users can margin trade across all asset classes and gain up to 1000:1 leverage.

As the native and commercial asset of the Pullix ecosystem, the PLX token derives value from several factors. Notably, being the crypto market's first “Trade-to-Earn” cryptocurrency, users can earn instant rewards for trading on the platform and completing trading challenges.

To put things in perspective, the PLX token employs a revenue-sharing mechanism that allocates a portion of the platform’s daily revenue to token  holders —those who stake or trade the token. Similarly, staking the PLX token can earn users up to 18% of their capital, depending on the lock duration. These benefits position the PLX token as one of the best new cryptocurrencies to invest in.

With a current value of $0.08, the presale progress indicates a potential surge in PLX's value upon launch. Analysts predict a potential 100x increase once the altcoin gets listed on exchanges in Q1 of this year. Based on this premise and the growing enthusiasm among investors as the token presale nears completion, the possibility of Pullix reaching $1 is really not far-fetched.

For more information regarding Pullix’s presale see links below:

Visit Pullix 

Join The Pullix Communities

This article is a Brand Press post. Brand Press is a paid service for brands that want to reach Techpoint Africa’s audience directly. Techpoint Africa’s editorial team doesn’t write Brand Press content. To promote your brand via Brand Press, please email [email protected]

This Brand Press article was not written by Techpoint Africa’s editorial team. To promote your brand via Brand Press, please email [email protected].

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