In the cryptocurrency markets, fundamental analysis is of great importance, especially in this period where Bitcoin and others are rapidly rising. We are experiencing days where good news has significant impacts on prices. If BTC can maintain the $38,000 support in the coming hours or days, the price of LINK Coin can experience even bigger rallies.
Chainlink, a popular altcoin that has long maintained its leadership position in the blockchain-based oracle solutions sector, has seen its price rise rapidly. We have also seen that the price is supported by Swift and other partnership news. The problem of LINK Coin, one of the biggest criticisms of Chainlink, being useless is being solved.
We witnessed that the launch of the first staking pool has caused the price to increase and strengthened optimism about the token’s long-term future. According to the announcements, the staking pool for LINK Coin will be expanded between November 28 and December 11. This means that the existing supply ready for sale on exchanges will further decrease.
Token holders also support the benefits of this staking pool, which allows them to contribute more to the system. In the statement made by the team, it was stated that the V0.2 pool will be launched on November 28. Those with priority access will be able to join the pool on December 7, and other LINK Coin investors can join as a staker on December 11 if there is space.
Currently, there is a staking pool of 22.5 million LINK Coins. This number will be increased to 45 million, meaning that approximately $315 million worth of tokens will be withdrawn from exchanges and locked in the pool. Furthermore, the pool will expand even further. With a market value of $8 billion and additional staking power worth $315 million, it indicates high demand and scarcity of ready-to-sell tokens.