The launch of Chainlink staking v0.2, announced on October 23, caused an increase in the price of #Chainlink (LINK) Coin. The asset, which has been in a falling trend for a long time, has increased by 11% in the last 24 hours. Details of the launch, why Chainlink (#link) is rising, technical analysis are in this article.

Chainlink Staking is an important cryptoeconomic security mechanism that allows Chainlink ecosystem participants, such as node operators and community members, to support the performance of their services with staked $LINK and earn rewards for helping secure the Chainlink Network.

Staking, part of Chainlink Economics 2.0, enables Chainlink services to scale to secure a wider range of applications and higher value use cases on Web3.

The next version of Chainlink Staking (v0.2) will be released in Q4 this year, initially with an expanded pool size of 45 million LINK. The launch of the v0.2 beta upgrade will gradually expand access to a wider scope of participants, starting with a Priority Pass period for existing v0.1 stakers before moving to Early Access and then Public Access.

After the news of Staking V0.2, Link started to rise. While the link increased by 11% in the last 24 hours, it increased by 38% in the last week and 50% in the last month.

Technical Analysis (Current)

According to our current Chainlink price prediction, the Chainlink price is predicted to increase by 3.21% to $11.03 by October 28, 2023. According to our technical indicators, current sentiment is Bullish while the Fear and Greed Index is reading 53 (Neutral). Chainlink recorded 18/30 (60%) green days with a 5.68% price fluctuation in the last 30 days.

According to the data on October 23, 2023 at 12:06, the general Chainlink price prediction sentiment is bullish. While 28 technical analysis indicators give bullish signals, 5 indicators point to bearish signals.

Note: The data here is not investment advice.

#Crypto