Token

Million

Resistance

Chainlink

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>The company revealed that the “V0.2” community staking mechanism was opened for early access at 12 p.m. ET.</a> </li> 
 <li> <span>2</span> <a>Currently, there are 1.8 Million LINK in the node operator pool, out of a capacity of 4.125 Million.</a> </li> 
 <li> <span>3</span> <a>The uptrend continues for the LINK coin price with a little less than 12% gain intraday.</a> </li> 
</ul> 
<p>Chainlink, which is the largest blockchain data-oracle project, announced that its crypto-staking program has been expanded. Moreover, it also announced that it has seen a significant uptake. In just six hours after the start of an early-access period, the company was able to pull in over $632 Million worth of its LINK tokens. This ended up filling up to the limit.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-how-chainlink-got-over-600m-in-just-about-6-hours-strong"><strong>How Chainlink Got Over $600M in Just about 6 Hours</strong></h2> 
<p>The company revealed that the “V0.2” community staking mechanism was opened for early access at 12 p.m. ET. Within just 30 minutes, some 32.8 Million LINK had already been staked.&nbsp;</p> 
<p>After six hours, the community pool had hit the new, higher capacity of 40.875 Million LINK. The price of LINK has gone up by 11.8% over the past 24 hours to $16.295, data from Binance shows.</p> 
<p>In total, the expanded staking pool capacity is now 45 Million LINK, which is up from 25 Million under v0.1. This figure includes the community pool allocation and a separate node operator pool. Currently, there are 1.8 Million LINK in the node operator pool, out of a capacity of 4.125 Million. Additionally, 21.9 Million LINK was migrated from the earlier version of the staking program.</p> 
<p>Staking is part of what the company calls Economics 2.0 that is meant to help secure the Chainlink system. Chainlink staking enables node operators, which help engineers fetch external data. In addition to this, it also helps community members to support the performance of oracle services with staked LINK.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-what-the-co-founder-said-strong"><strong>What the Co- Founder Said</strong></h3> 
<p>The company’s co-founder, Sergey Nazarov, stated in a press release that Staking v0.2 will introduce important new security features, and that it sets the system up for even further growth in the year to come.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-link-coin-price-strong"><strong>Technical Analysis and Prediction of LINK Coin Price&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img loading="lazy" decoding="async" width="1600" height="763" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-281.png" alt="LINK Coin: Chainlink Raised $600M, Know the Effect on its Token" class="wp-image-183788" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-281.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-281-300x143.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-281-1024x488.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-281-768x366.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-281-1536x732.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-281-750x358.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/12/image-281-1140x544.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   LINK/USDT chart by <a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=BINANCE%3ALINKUSDT">TradingView</a> (Daily time frame)
  </figcaption>
 </figure>
</div> 
<p>The price of LINK <a href="https://www.thecoinrepublic.com/2023/11/17/osmo-coin-bulls-are-confronting-bears-at-the-resistance-level/" target="_blank" rel="noreferrer noopener">coin</a> has been on the rise since mid-October. The resistance level for the current price action is $16.4, while the immediate support level is $12.9. A bullish crossover occurred between the 50-day and 150-day EMAs at the end of September when the bulls showed some strength.</p> 
<p>At the start of November, the RSI level was at 85, which showed that the market was showing overbought conditions. However, it has since decreased to 60, indicating a weaker bullish trend in recent trading sessions. Despite this, the price prediction for LINK coin remains bullish as the bulls have taken hold of the current resistance level.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Chainlink announced that its crypto-staking program has been expanded. The expanded staking pool capacity is now 45 Million LINK, which is up from 25 Million under v0.1. The current trend is bullish and the price prediction for LINK coin remains bullish.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> $12.9 and $8.32</li> 
 <li><strong>Resistance Levels: </strong>$16.4 and $19.1</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.</p>

LINK Coin: Chainlink Raised $600M, Know the Effect on its Token

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