Chainlink is still a pump and dump scheme, Zeus capital reaffirms


Zeus Capital LLP says it will not back down from its claims as it releases another report that proves its earlier statement that Chainlink is still a pump and dump scheme.

This report is coming on the back of critics taking a swing at the company over their initial report about the token.

The firm released a document that affirms that a big part of the partnership that Chainlink boasts of merely hypes. The firm noted in a more straight forward conclusion that Chainlink was created solely to make its developers very rich.

In the document released, the company raised growing concerns over their said partnerships with leading firms like Oracle and some others.

Chainlink is still a pump and dump scheme despite partnerships

Giving a critical break down of the way Chainlink allegedly operates, the firm notes that it first starts with a big company releasing products to the public while giving credit to Chainlink.

The credit to Chainlink here means that the firm says Chainlink acted as the middle man to deliver their products to clients who use Blockchain technology.

Going further, Zeus Capital that was said to have ties with Nexo Finance, says that Chainlink’s main aim is to bring APIs to the blockchain so a vast amount of legacy users can enjoy benefits.

Even at that, Zeus still feels that the framework supporting Chainlink has been massively hyping the project as well as the willingness of their partners to go on.

In their statement, Zeus Capital LLP said, Smart contracts and the developers of Chainlink are presently doing all they can to make it appear in the news by making big announcements of partnership with big firms.

Developers of Chainlink has maximum control over them, Zeus Capital says

Furthermore, Zeus notes that this announcement move is made for one perpetual gain, which is to push the price of the Link token up. With this move, the firm thinks that Chainlink is still a pump and dump scheme.

Citing a good example, Zeus talked about when Chainlink announced that they had gone into a partnership with Google, the price per coin was roughly $1.19. Immediately after Google announced it via a tweet, the price went up a staggering 62% to stay at $1.93.

The firm says it has looked at the odds and feels the developers of Chainlink already built a high powered, efficient machine for themselves.

Backing their claim that Chainlink is still a pump and dump scheme, Zeus Capital says the developers can wish to dump any amount of token they want as they have maximum control over them. Presently, Link boasts of a $7 price tag, easily claiming the spot for the 10th most capitalized token.

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Kamsi King

King Kamsi is a fintech and digital currency writer and enthusiast. He is keenly interested in blockchain and cryptocurrency and their global adoption. When not busy with writing, he can be found hobnobbing in forums with the best minds in crypto, both developers and startup founders.

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