Chainlink’s latest rebound (LINK) has produced unconventional results: 100% of your offer is “in the money” or profitable.
This metric is just a comparison between the current price of the asset and the price at which it was purchased.. If the current price is higher it is “in the money”, if it is lower it is “out of the money” and if it is the same it is “at the money level”.
Chainlink offer percentage in / out of money. Source: IntoTheBlock
Litecoin – 47%, Bitcoin – 90%
According to an IntoTheBlock intelligence company is currently The entire stock of the LINK token is “in the money”. As a reference, approx. 90% of the Bitcoin offer (BTC) is currently in the money and only 47% of the Litecoin offer (LTC).
The question is, how can 100% of the addresses be “in the money” at the same time? This is very unusual for any asset and is only partially explained by the parabolic increase in the asset. Every operation needs a buyer and a seller, so theoretically some addresses should be “money-level”.
The price may have increased on the stock exchanges without being pulled into your wallet before the snapshot was taken. Alternative, The proportion of addresses that are not “in the money” at this point in time can be very small and rounded to zero. We asked IntoTheBlock for an explanation and will update this story as soon as we have an answer.
The Chainlink rally is easier to explain. It has announced a number of important milestones, integrations and partnerships. Also, The project has just announced a grant program to fund projects that herald the era in which smart contracts will become “the dominant form of digital delivery”.