Santiment, the blockchain analytics platform, brought attention to a substantial movement of older Chainlink (LINK) coins between wallets. The X post has sparked speculation within the community, as historical data suggests that significant shifts in older coin holdings often precede substantial price movements.
The post highlighted the quiet yet substantial migration of older Chainlink tokens across various wallets. Santiment pointed out that such movements have historically been correlated with subsequent notable price fluctuations.
This revelation comes on the heels of a similar occurrence on September 15th, a date that is etched in the memories of Chainlink enthusiasts. On that day, a considerable movement of older LINK coins preceded a remarkable 31% surge in the LINK token’s price over the following two weeks.
The cryptocurrency market is no stranger to the influence of large-scale coin movements. The historical correlation between significant coin movements and subsequent price climbs has heightened anticipation among LINK holders and traders.
Chainlink Unveils Version 2 For LINK Holders
This revelation comes on the heels of a similar occurrence on September 15th, a date that is etched in the memories of Chainlink enthusiasts. On that day, a considerable movement of older LINK coins preceded a remarkable 31% surge in the LINK token’s price over the following two weeks.
The cryptocurrency market is no stranger to the influence of large-scale coin movements. The historical correlation between significant coin movements and subsequent price climbs has heightened anticipation among LINK holders and traders.
This revelation comes at a time when Chainlink, a decentralized oracle network, has been making waves with the launch of version 2 of its staking mechanism for the LINK holder community. Launched on November 28th, the upgraded staking system garnered swift attention from the LINK community.
Staking stands as a pivotal initiative for Chainlink, securing its blockchain network by leveraging the support of LINK holders. These stakeholders play a crucial role in underpinning the performance of Chainlink’s oracle services while earning rewards in return.
The initial version of Chainlink’s staking, v0.1, made its beta debut in December 2022, featuring a staking pool comprising 25 million tokens dedicated to shoring up the security of its ETH/USD data feed on the Ethereum chain.
With the launch of version 2, v0.2, the network has substantially increased the size of its staking pool, now boasting a whopping 45 million LINK tokens. This expansion aims to broaden the participation scope of the staking initiative, allowing for the priority migration of staking from v0.1 to v0.2.
Over 24 hours since the launch of Chainlink Staking v0.2, over 66% of the v0.1 community’s staked LINK has already migrated to v0.2. Existing v0.1 stakers have been granted an additional 8 days to transition their v0.1 staked LINK and accrued rewards to v0.2, ensuring guaranteed access until Early Access opens.
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