"Hopefully the price of LINK will go up again, don't suddenly fall flat."
While the rest of the broader cryptocurrency market is witnessing a recovery, Chanlink (LINK) is also refusing to be left behind as its price past $11 has surged over 43% over the past month.
This is because large investors reportedly rushed to buy a large amount of LINK before the price saw an upward trend, therefore the network reached the highest level in transaction whales, unique addresses and trading volume.
Through observation, activity on the LINK network has seen a significant increase especially on October 21, 2023 when data shows that the digital asset recorded 220 whales transactions exceeding $100,000 each.
Not only that, the number of different addresses involving LINK also increased by almost 5,000 while the total trade for the digital asset network recorded over 800 million.
One of the main factors driving the price of LINK up high is the launch of the Chainlink Staking platform v0.2 which introduces several features for the ecosystem such as Unbonding Mechanism and Liquid Rewards which offer better security or transparency.
The introduction of the v0.2 beta upgrade will expand accessibility to a wider range of participants, starting with the Priority Migration phase for existing v0.1 stakers followed by the Early Access phase and finally opening to General Access.
There is no denying that v0.1 served as the initial Staking program, but v0.2 has been designed to be a fully modular Staking platform that can be extended and upgraded.
Currently, the price of LINK is trading at $10.33 with a market capitalization of $5 billion and has recorded a jump of 38.32% over the last week.
