Chainlink fans might have something to smile about as the network reveals plans to roll out Chainlink Staing V0.2. The announcement may spark
A growth in Chainlink’s demand was indicated by lower exchange balances. But, this does not necessarily indicate a strong bullish presence.So where is LINK headed then?fans might have something to smile about as the network reveals plans to roll out Chainlink Staing V0.2. The announcement may spark some excitement among LINK traders but let’s explore the reasons why.Chainlink rolled out its initial version dubbed Chainlink Staking V0.1 towards the end of 2022.
The network’s latest announcement revealed that the next iteration of Chainlink staking will feature a 45 million LINK maximum pool size.Last December, the Chainlink Staking v0.1 pool filled in less than three hours after General Access opened. Now, with the v0.2 upgrade on the horizon, Chainlink Staking is being rearchitected into a staking platform with a total pool size of 45M…Furthermore, the Chainlink Staking V0.2 will feature some upgrades over its previous version such as dynamic rewards, better security, and more staking flexibility. Perhaps the biggest question here is whether it will have an impact on
LINK could see a substantial surge in demand once Chainlink Staking V0.2 is rolled out. However, it will likely not have that much of an impact on its price action. This is because most of the price impact on LINK comes from speculative trading. An impact on LINK’s price action would be more apparent if the Chainlink Staking V0.2 rollout triggers a substantial sentiment shift in the market. The announcement already triggered a sizable spike in social dominance in the last 24 hours. However, market sentiment remains low as indicated by the weighted sentiment which was still close to its four-week lows.A long-term descending resistance line underpins LINK’s upper limit while the lower range has been moving along an ascending support.
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