Chainlink, the leading Oracle network in the crypto industry, has witnessed an extraordinary surge in its Staking V0.2 Community Pool, accumulating a staggering 41 million LINK tokens within a short span. The launch of the early access phase on December 7 saw a remarkable 19 million LINK staked in just seven hours, indicating a robust continuation of Chainlink’s current bullish trajectory.
The upgraded V0.2 pool currently holds an impressive 40,875,000 LINK, valued at approximately $690 million. On-chain data from Nansen reveals that the staking contract has attracted the largest share of LINK, closely followed by an address controlled by Binance holding 38 million LINK.
Chainlink expressed gratitude to the community, acknowledging both V0.1 migrators and new stakers for their active participation in the V0.2 launch. The substantial amount staked is a testament to the community’s commitment to securing the Chainlink Network and the verifiable web.
Compared to the initial version’s 25 million LINK capacity, the V0.2 pool boasts significant enhancements, including strengthened security measures, increased flexibility, a dynamic reward system, and a modular architecture.
General access to the staking pool is set to open on December 11, allowing wider public participation. However, participation is subject to space availability, dependent on existing stakers withdrawing their LINK. The enticing base reward rate of 4.32% for community stakers, coupled with the dynamic reward model, makes the likelihood of withdrawals minimal.
The overwhelming engagement in LINK staking underscores the growing significance of the project within the crypto ecosystem. Chainlink’s status as a leading Oracle network has fueled positive sentiments, with recent high demand noted as whales accumulated around $50 million in LINK.
Santiment reports a LINK Longs vs. Shorts ratio on Binance at a 4-week high, reflecting strong market confidence. Currently trading at $17.16, LINK has surged to its highest price since April 2022, boasting an impressive year-to-date growth of 204% and a notable 7.5% increase within the past 24 hours.
As Chainlink’s staking ecosystem continues to thrive and positive market sentiment prevails, the project remains a focal point for crypto enthusiasts and investors, paving the way for further developments in the evolving landscape of decentralized finance.
