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Chainlink to introduce staking - course reacts positively

 


Chainlink is probably the most successful solution for oracles on the market. An Oracle enables data that is outside a blockchain to be correctly recorded and made available. This currently plays a particularly important role in DeFi protocols, because they receive reliable price and market data in this way. In principle, however, many other applications are also conceivable.


However, Chainlink does not produce block rewards, but depends on the profitability of the respective Oracle networks. And this is exactly where you got a little further, which in turn is an important piece of the puzzle to introduce staking this year and make it available to different network participants. Sergey Nazarov announced this in a presentation at the beginning of the year .


However, there is still no specific date, which does not seem to bother the market any further. The mere prospect of being able to stake LINK tokens in the future and thus generating additional income seems to be giving the price a boost. Nazarov was also confident that Chainlink will continue to grow this year, which should certainly have contributed to it.


LINK course defies the bad mood

Since the video presentation was released on January 1, the price has continued to rise. At the time of going to press, Chainlink is at $ 27.54, up around 26% over the past week.


Should the bulls be able to continue the current price rally, then LINK will encounter further resistance at 32 and 35 US dollars. Because there you had no good cards in May and in September and November last year and failed when trying to break out.



The sword of Damocles, which is currently hanging over the market, remains as a residual risk. Should Bitcoin not find support between 40,000 and 42,000 US dollars, then this could potentially also disturb the good mood at the "LINK Marines". But every coin has two sides. A reversal and a rise in the price of BTC should be positive for Chainlink. Also, announcements regarding the staking schedule could act as a catalyst for a rally.

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