Chainlink Token Soars 35% in Anticipation of v0.2 Release

Chainlink’s native token, LINK, skyrocketed by 35% in a week, achieving its highest close in 18 months at around $11 per token. This surge, reaching levels last seen in May 2022, resulted from the anticipation of Chainlink Staking v0.2’s launch later this year. The new version promises flexible withdrawals, liquid rewards, modular architecture, and dynamic incentives, enhancing the user experience and network participation.

Alert 🚨: Chainlink has surged 35% over the past week as over $100M LINK leaves exchanges.

Chainlink to the moon? #Chainlink #LINK #crypto #Ethererumhttps://t.co/OUybFzWzuf

— QuantumChain Ventures (@QuantumChain_) October 23, 2023

Over $100 million worth of LINK left exchanges recently, indicating investor enthusiasm for v0.2 staking rewards. This, combined with LINK’s price hikes, solidifies Chainlink’s status as a leading innovator, signaling its potential for widespread adoption. The impending surge in widespread adoption has increased optimism in the market, thereby resulting in a further surge in the value of Chainlink.

Chainlink Key Levels To Watch – October 23

The price of Chainlink has successfully invalidated the previous major high at $8.800 since its formation in April 2023. However, the resistance at $11.050 seems to be rejecting the price downward as the price sets for a bearish retraction into the discount zone.

After the formation of the $8.800 major high in April 2023, LINKUSD experienced a notable decline in the discount zone. The market eventually flipped bullish after hitting the $4.930 support. The bullish trend is likely to resume after the discount zone is reached.

Chainlink Critical Levels

Resistance Levels: $11.050, $12.400, $18.320
Support Levels: $8.260, $7.110, $4.930

LINKUSD Metrics

Total Market Capitalization: $1.06T
Chainlink Market Capitalization: $5.8B
Chainlink Volume: $1.5B
Market Rank: #18

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