Chainlink’s Staking V0.2 Community Pool Gains 41 Million LINK
The early access launch of Chainlink’s Staking V0.2 Community Pool has seen an impressive accumulation of nearly 41 million LINK, with 19 million LINK staked within just seven hours. This highlights the ongoing bullish momentum for LINK.
Around $690 Million in LINK Staked
The upgraded V0.2 pool currently holds a significant amount of LINK, totaling 40,875,000 LINK worth approximately $690 million. Nansen’s on-chain data reveals that the staking contract has acquired the largest share of LINK, followed closely by Binance with 38 million LINK.
“We want to thank the community — both V0.1 migrators and new stakers — for participating in the V0.2 launch and putting 40,875,000 LINK to work to help secure the Chainlink Network and the verifiable web,” Chainlink said.
Compared to the initial version, the V0.2 pool offers enhanced features such as improved security measures, greater flexibility, a dynamic reward system, and a modular architecture.
The general access to the staking pool will open on December 11, allowing public participation. However, availability depends on existing stakers withdrawing their LINK.
Crypto Market Is Bullish on Chainlink
The significant engagement in LINK staking reflects the increasing importance of the project. This aligns with the growing positive sentiments surrounding Chainlink as the leading Oracle network in the crypto industry.
Last week, there was high demand for LINK as whales accumulated around $50 million. This trend has continued, with many traders anticipating a rise in LINK’s price.
According to Santiment, the ratio of LINK Longs vs. Shorts on Binance is at a 4-week high. The last time it reached this level was on November 11 when LINK was valued at $16.43.
Currently trading at $17.16, LINK has reached its highest price since April 2022. This represents a remarkable year-to-date growth of 204% and a significant 7.5% increase in the past 24 hours.
Hot Take: Chainlink Staking Pool Attracts Massive Participation
The launch of Chainlink’s Staking V0.2 Community Pool has garnered immense attention and participation from the crypto community. With nearly 41 million LINK accumulated and an impressive 19 million LINK staked within seven hours, it is evident that investors are confident in the project’s potential.
This surge in staking activity also reflects the overall bullish sentiment towards Chainlink, with traders betting on its price to rise. As LINK continues to reach new highs and demonstrate substantial growth, it solidifies its position as a leading player in the crypto market.
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