if you were at this point in time just by judging the price action?
Very true, but we have onchain data now which wasn't available before, and we know that chainlink locks up the most defi value and pretty much supports defi for all of crypto but the price still isn't going up
It might be not so much demand like @l0_pl point out. But main problem is hype. Our bubble already burst in August 2020, it takes time to get back on track after such event.
Well Link is subsiding his network growth heavily to maximise ubiquity and integrations, i think that's why the network effects hasn't still taken place. They are focusing primarly on landing on every possible network and becoming endemic to the entire space, it's kinda the Amazon growth strategy.
I feel this link above about whale wallet exhaustion is interesting. Keen to see if it pans out.
Remember link didn't do that much 2017-2020, it only really woke up during Q3/Q4 2020
BTC underperforms Google stock, for example, and had more sever drowdown, which is top kek, tbh
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