Chainlink Expands Staking with $632M Inflow and Reaches 45M LINK Capacity

Chainlink expands staking with a $632 million inflow as the total staking pool reaches 45 million LINK capacity. Chainlink has increased the size of its staking pool by over 80% in the most recent version, v0.2, as part of its crypto-staking strategy. In a few hours during the first-access period, the company amassed an astounding $632 million of LINK tokens, breaking the recently set maximum.

🔗💰Exciting news! Chainlink raised a whopping $600M, but what does this mean for its token? 🤔📈 Dive into the details here! #Chainlink #crypto #investment #blockchain #Tokenomics 🚀💪😮 pic.twitter.com/OwqaWRBX0H

— CryptoNFTAlerts (@CryptoNFTAlerts) December 10, 2023

Over a day, the value of LINK increased by 11.8% to $16.295. A key element of Chainlink’s Economics 2.0 is staking, which involves community members and node operators in strengthening the system. Co-founder Sergey Nazarov emphasized the addition of critical security elements in Staking v0.2, putting the system in a key position for future growth. With the recent volatility in the market, LINK’s trajectory is still favorable.

Key Chainlink Levels To Watch – December 11

The market is currently in a consolidation phase as the price corrects the recent rapid rally. The breakout in October 2023 from the discount zone led to a rapid rally into the premium zone.

According to the MA Cross, the overall trend of LINKUSD is bullish. Following the BOS (Break Of Structure), the price retraced into a bullish order block. The bullish order block is likely to cause a resumption in the market’s uptrend.

Chainlink Key Levels

Resistance Levels: $18.320, $19.560, $21.790
Support Levels: $9.650, $7.910, $4.930

LINK Metrics

Total Market Capitalization: $1.56T
Chainlink Market Capitalization: $8.22B
Chainlink Volume: $0.99B
Market Rank: #13

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