Attention LINK investors! You may experience turbulence over the next few days 

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Chain­link [LINK] hold­ers and investors may have some­thing to rejoice about. The new Eco­nom­ics 2.0 may be the key to save an ail­ing and strug­gling LINK. The lat­est launch will enable Chain­link to surge its fees and rev­enue cap­ture as well as increase the blockchain’s secu­ri­ty via staking. 

How­ev­er, what remains to be seen is that if this new launch can improve Chain­link‘s declin­ing mar­ket cap.

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Here’s AMBCrypto’s Price Pre­dic­tion for Chain­link  for 2022–2023.

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Chain­link made the announce­ment on 14 Octo­ber via Twit­ter. Fur­ther­more, Chain­link plans to make a lot of improve­ments and alter­ations to the cur­rent func­tion­ing of the network. 

 

In terms of gen­er­at­ing rev­enue from fees, the blockchain announced that it would help pre-rev­enue dApps. Chain­link would share its ora­cle ser­vices and tech­ni­cal sup­port with the dApps. Fur­ther­more, in exchange, the dApps would com­mit a part of their token sup­ply to Chain­link as net­work fees.

Some oth­er improve­ments also includ­ed low­er costs  and improved secu­ri­ty. In lieu of these events, Chainlink’s devel­op­ment activ­i­ty wit­nessed a rise over the past week.

This may be a strong indi­ca­tion that devel­op­ers at Chain­link were mak­ing progress in terms of devel­op­ment and new fea­tures. Addi­tion­al­ly, Chainlink’s net­work growth also wit­nessed an uptick, indi­cat­ing that the num­ber of new address­es that trans­ferred Chain­link for the first time grew.

This implied a spike in inter­est from new address­es towards LINK.

Source: San­ti­ment

Will it ever be enough?

The afore­men­tioned devel­op­ment wasn’t the only pos­i­tive devel­op­ment as LINK had some­thing more in store. Insti­tu­tion­al investors and whales too showed a new-found inter­est towards Chainlink.

WhaleStats, an orga­ni­za­tion respon­si­ble for track­ing cryp­to whales, tweet­ed that LINK was among the top 10 pur­chased tokens by 500 biggest Ethereum whales in the last 24 hours.

How­ev­er, despite sig­nif­i­cant inter­est from huge investors, there were some areas, such as veloc­i­ty and mar­ket cap, where there were signs of stagnancy.

As can be seen from the image below, Chainlink’s veloc­i­ty wit­nessed a decline over the past few days. This meant that the aver­age num­ber of times Chain­link changed wal­lets each day wit­nessed a drop. This fac­tor along with Chainlink’s declin­ing mar­ket cap, could be per­ceived as a bear­ish sig­nal for poten­tial investors.

Source: San­ti­ment

In addi­tion to the decline men­tioned above, Chain­link dep­re­cat­ed by 3.40% in the last 24 hours and was trad­ing at $6.87 at press time. Its vol­ume also depre­ci­at­ed by 40% dur­ing the same time period.

How­ev­er, despite Chain­link’s bear­ish price action, com­pa­nies con­tin­ued to show faith in Chainlink’s team as inte­gra­tions and devel­op­ments with mul­ti­ple orga­ni­za­tions in the DeFi and Game­Fi spaces con­tin­ued to happen.



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