Rajarshi Mitra
Independent Analyst
- Asset management firm Zeus Capital LLP has accused Chainlink of artificially pumping the coin’s price.
- The firm has claimed that it has all evidence related to the alleged price manipulation.
- Zeus Capital Limited, an investment bank, has clarified that it has no affiliation with Zeus Capital LLP.
Zeus Capital LLP, an asset management company, has publicly accused Chainlink of artificially pumping the price of its coin. The firm has also published a report that says that Chainlink has been making fake partnerships and using them as a marketing scheme. The asset management firm stated that Chainlink is created to enrich the founders.
Zeus Capital LLP took to Twitter to say that they have "unlimited resources to go after LINK" and documented everything related to the alleged price manipulation.
We’ve unlimited resources to go after $LINK.
— Zeus Capital (@ZeusCapitalLLP) August 2, 2020
You can’t short squeeze us.
The attempt to manipulate the market and save LINK from today’s flash crash is being documented and added to the lawsuits.
Everyone involved will face the consequences.$LINK will drop to $0.0001 as in March pic.twitter.com/OHQe7Kz63H
The screenshots included in the tweet claim that “LINK marines" pumped the coin to liquidate Zeus Capital's short position.
A few days back, Zeus Capital Limited, a popular investment bank, published a post in which it clarified that it has nothing to do with the Zeus Capital LLP that is accusing and threatening Chainlink of bad acting. An excerpt from the post reads:
For the avoidance of doubt we would like to state that Zeus Capital Limited has not produced or published research on this subject and has no relationship or affiliation with Zeus Capital LLP whatsoever.
Zeus Capital LLP also published an interview with an anonymous “industry professional who held a senior position at Callisto Network.” This person said that after Callisto offered to enter a partnership with Chainlink, the latter immediately agreed and published a press release to that effect. However, the person has claimed that no actual collaboration took place and Callisto did not integrate Chainlink oracles, according to a CryptoComes report.
LINK/USD daily chart
LINK/USD had a heavily bullish Thursday, wherein it jumped from $9.492 to $10.25. Currently, the bears have taken the price down a bit to $10.21 in the early hours of Friday. The price is trending above the 20-day Bollinger Band, showing that it is currently overvalued. The MACD shows increasing bullish momentum. We have healthy support levels at $9.492, $8.66 and $8.17 (SMA 20).
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Lukas Enzersdorfer-Konrad, Bitpanda deputy CEO: “Crypto needs Gary Gensler gone”
Lukas Enzersdorfer-Konrad is the deputy CEO at Bitpanda, a broker based in Europe with more than five million users. At the European Blockchain Convention held in Barcelona, the executive shared with FXStreet his views on the current state of the crypto industry and its regulation.
Bitcoin still consolidates despite positive spot ETFs demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
Why is ONDO’s price outlook bullish?
DefiLlama data shows that Ondo TVL reached a new ATH of $613.75 million. Ondo’s Supply Distribution metric shows whale accumulation. On-chain data shows that ONDO’s daily trading volume is rising, and the supply of exchanges is decreasing.
Maker price eyes a rally on technicals and on-chain metrics
Maker trades above $1,500 on Thursday, suggesting a potential rally as technical indicators show bullish divergence. This positive outlook is reinforced by MKR’s Exchange Flow Balance, which shows a negative spike, indicating growing investor confidence in the platform.
Bitcoin: Fed-led rally could have legs towards $65,000
Bitcoin is poised for a second consecutive week of gains, supported by the recent 50-basis-point cut in interest rates by the Federal Reserve. Bitcoin broke above several key technical resistances this week, signaling a rally continuation.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.