{"id":202842,"date":"2023-11-29T14:48:34","date_gmt":"2023-11-29T09:18:34","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=202842"},"modified":"2023-11-29T14:48:34","modified_gmt":"2023-11-29T09:18:34","slug":"is-link-reacting-favorably-to-chainlinks-latest-upgrade-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/is-link-reacting-favorably-to-chainlinks-latest-upgrade-crypto-news\/","title":{"rendered":"Is LINK reacting favorably to Chainlink&#8217;s latest upgrade? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<p>Journalist<\/p>\n<\/div>\n<p>\n<span class=\"mvp-post-date updated\">Posted: November 29, 2023<br \/>\n<\/span><\/p>\n<\/div>\n<div>\n<ul>\n<li><i><span style=\"font-weight: 400\">Chainlink has launched the v0.2 upgrade on the network.<\/span><\/i><\/li>\n<li><i><span style=\"font-weight: 400\">Demand for LINK has seen a decline in the last two weeks.<\/span><\/i><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Leading oracle network <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/eng.ambcrypto.com\/search\/chainlink\" data-wpel-link=\"internal\">Chainlink [LINK]<\/a> has announced the mainnet launch of the v0.2 upgrade of its native staking mechanism.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">#Chainlink<\/a> Staking v0.2 is officially live on mainnet \u2b21<\/p>\n<p>Starting today, existing v0.1 stakers have a nine-day window to migrate their staked LINK and accrued rewards to the 45M LINK v0.2 pool, with guaranteed access before Early Access begins.<\/p>\n<p>\ud83e\uddf5<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/pcFAVXct3L\" data-wpel-link=\"external\">https:\/\/t.co\/pcFAVXct3L<\/a><\/p>\n<p>\u2014 Chainlink (@chainlink) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/chainlink\/status\/1729551423707197870?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">November 28, 2023<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">The upgrade comes eleven months after the protocol first <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/how-link-performed-after-oracle-network-opened-up-early-access-to-chainlink-staking\/\" data-wpel-link=\"internal\">introduced<\/a> staking on its network in December 2022.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.chain.link\/chainlink-staking-v0-2-now-live\/\" data-wpel-link=\"external\">press release<\/a> dated 28th November, Chainlink noted that the v0.2 upgrade comes with an expansion of the staking pool size to 45 million LINK. <\/span><\/p>\n<p><span style=\"font-weight: 400\">This represents 8% of the altcoin\u2019s current circulating supply and a 96% increase from the 22.5 million LINK that was allotted to the staking pool when the staking mechanism first launched last December.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Chainlink added that there is a nine-day priority migration period, which began on 28th November. During this period, existing v0.1 stakers are allowed to move their staked LINK and accrued rewards to the new upgrade.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Thereafter, there would be a four-day early access period wherein LINK holders who meet already-specified requirements can stake up to 15,000 LINK tokens. After this, access would be granted to the general public.\u00a0<\/span><\/p>\n<h4><b>How did LINK react?<\/b><\/h4>\n<p><span style=\"font-weight: 400\">With its price trapped within a narrow price range, LINK managed a 4% hike in the last 24 hours. At press time, the altcoin exchanged hands at $14.58, according to <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/chainlink\/\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">CoinMarketCap\u2019s<\/span><\/a><span style=\"font-weight: 400\"> data.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Due to the current consolidation, LINK accumulation has experienced a decline. An assessment of its key momentum indicators on a daily chart revealed that spot market participants have gradually stayed their hands from buying LINK since the middle of the month.<\/span><\/p>\n<p><span style=\"font-weight: 400\">At press time, LINK\u2019s Money Flow Index (MFI) rested below its center line and trended downward. This suggested that coin distribution exceeded accumulation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Likewise, the token\u2019s Chaikin Money Flow (CMF) appeared poised to breach its center line and fall into negative territory at press time.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\">Realistic or not,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" data-wpel-link=\"internal\">here\u2019s LINK\u2019s market cap in BTC terms<\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">The fall in LINK\u2019s CMF showed that its spot market has been marred by a consistent liquidity exit in the past two weeks.<\/span><\/p>\n<div id=\"attachment_80092\" style=\"width: 2192px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/engamb.sfo2.digitaloceanspaces.com\/wp-content\/uploads\/2023\/11\/29104217\/LINKUSDT_2023-11-29_06-12-07.jpg\" data-wpel-link=\"external\"><img decoding=\"async\" aria-describedby=\"caption-attachment-80092\" loading=\"lazy\" class=\"wp-image-80092 size-full\" src=\"https:\/\/engamb.sfo2.digitaloceanspaces.com\/wp-content\/uploads\/2023\/11\/29104217\/LINKUSDT_2023-11-29_06-12-07.jpg\" alt=\"\" width=\"2182\" height=\"1226\" \/><\/a><\/p>\n<p id=\"caption-attachment-80092\" class=\"wp-caption-text\">Source: LINK\/USDT on TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">The token\u2019s futures market is no different, as it has seen a steady decrease in open interest since 12th November. At $291.3 million at press time, LINK\u2019s open interest has since fallen by 35%.\u00a0<\/span><\/p>\n<div id=\"attachment_80093\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/engamb.sfo2.digitaloceanspaces.com\/wp-content\/uploads\/2023\/11\/29104258\/Screenshot-2023-11-29-at-06.12.52.png\" data-wpel-link=\"external\"><img decoding=\"async\" aria-describedby=\"caption-attachment-80093\" loading=\"lazy\" class=\"wp-image-80093 size-full\" src=\"https:\/\/engamb.sfo2.digitaloceanspaces.com\/wp-content\/uploads\/2023\/11\/29104258\/Screenshot-2023-11-29-at-06.12.52.png\" alt=\"\" width=\"2560\" height=\"647\" \/><\/a><\/p>\n<p id=\"caption-attachment-80093\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<p>\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Journalist Posted: November 29, 2023 Chainlink has launched the v0.2 upgrade on the network. Demand for LINK has seen a decline in the last two weeks. Leading oracle network Chainlink [LINK] has announced the mainnet launch of the v0.2 upgrade of its native staking mechanism.\u00a0 #Chainlink Staking v0.2 is officially live on mainnet \u2b21 Starting [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":202843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-202842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=202842"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202842\/revisions"}],"predecessor-version":[{"id":202845,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202842\/revisions\/202845"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/202843"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=202842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=202842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=202842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}