Chainlink (LINK) has Jumped over 25% After a New Long-Term Roadmap

Crypto Exchange Robinhood Announces Listing Chainlink (LINK)
  • Chainlink (LINK) announced a roadmap for its future.
  • Following the announcement, LINK increased by roughly 25% to $9.26.

Chainlink (LINK), a decentralized oracle network is booming after launching a new roadmap for its future. And it started to gain bullish momentum after the blockchain protocol announced its intention to offer token holders passive income options.

Chainlink is one of the most popular cryptocurrencies on the market, and it has already built a strong notable image among crypto users. On June 7 Chainlink published a long-term roadmap detailing how the network intends to utilize LINK token staking and which will bring the network into the “Chainlink Economics 2.0” era.

The decentralized oracle network announced that it is well on its way to implementing a staking mechanism. By allowing LINK holders to deposit their tokens as staking collateral, similar to other decentralized Proof-of-Stake (PoS) techniques, the purpose is to “improve the security guarantees and user assurances of oracle services.”

Buy pressure sparked a nearly 25% increase in the price of LINK after the roadmap news was released, peaking at $9.02. LINK, on the other hand, was trading flat with a small sell trend on June 8 and now returning to $9.26 at the time of writing. Chainlink is up 9.10% in the last 24 hours. 

Source Trading view

The LINK downtrend is reversing into a bullish trend and a favorable crossover between the 200 and 50 MA (Moving Average) shows it enters into a “Buy trend.” Chainlink (Link) volume has risen, and it now has a market cap of $4,305,165,248 USD and a trading volume of $750,772,866 USD.

A journalism graduate who is passionate about writing loves to dance and travel currently starts exploring blockchain technology.