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Home Cryptocurrency

Chainlink (LINK) Continues to Shrug Off Allegations from Zeus Capital, Soars to #5 Slot on CoinMarketCap

by admin

August 18, 2020

in Cryptocurrency

Chainlink (LINK) Continues to Shrug Off Allegations from Zeus Capital, Soars to #5 Slot on CoinMarketCap

Chainlink LINK Zeus Cryptonews

Social influence and the impact of public perception are key to any cryptocurrency’s success. As a relatively new asset class, there is little to prevent classic “pump-and-dump” tactics. However, recent actions by little-known asset management firm, Zeus Capital, go beyond the pale, even for an industry rife with propaganda. A bevy of cryptocurrency influencers reported that Zeus Capital offered them a considerable sum of money to speak negatively about Chainlink.

Chainlink and the LINK token represent one of the strongest success stories of the current cryptocurrency generation. Currently trading at nearly $17, LINK vaulted past other competitors to reach the #5 spot by market cap on CoinMarketCap.com. Some users will naturally adopt a bearish sentiment, given the sharp increase over a short time frame. However, a concentrated campaign to spread false information goes beyond simply being bearish. Further, Zeus Capital itself may be suspect – and there may be several entities falsely claiming to work for the company.

The Mystery of Zeus Capital

While Zeus Capital accuses Chainlink of fraudulent behavior, suspicious users started looking into the company. Ostensibly claiming to be a private asset management firm, several red flags appeared. First, there is no affiliation between Zeus Capital LLP and Zeus Capital Limited. The latter made this clear in a statement on their own website. Zeus Capital Limited is a U.K.-based investment bank with no connection to cryptocurrency.

In contrast, Zeus Capital LLP appears based out of Hong Kong. Their own website offers little information – in fact, almost all of the content exists solely to attack Chainlink. Investors would do well to conduct research elsewhere, regardless of their sentiment on LINK’s meteoric rise. Zeus Capital LLP is more likely to be a short-seller than a legitimate research group.

LINK History of Investor Perception

Chainlink is no stranger to playing the social media campaign. Early in their development cycle, LINK “benefited” from a third party 4chan campaign to suppress its price. Through keeping the price low, initially, they hoped to accumulate a large amount of LINK before the project took off.

Now, with LINK eagerly surging to $10, others are taking a closer look at 4chan and their impact on the market. While 4chan’s business board may look like utter chaos to an outsider, there is mounting evidence that they drive a large subsector of the cryptocurrency industry.

While the LINK-Zeus Capital battle may not be seen as relevant to those that do not have position, it is yet another reminder of the importance to do your own research. Relying on any one source, even the company itself, provides only a one-dimensional view. The LINK-Zeus Capital situation does not seem to be nearing a conclusion, but for those that have held on through it all have certainly been rewarded thus far.

Article By: Adam Stone