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Amid a broader market rebound, LINK demonstrated remarkable strength. It stood out as a notable performer among the top altcoins, leading an explosive rally beyond a level seen over a year ago.In early September, Chainlink established a bottom and ignited a substantial rally, which is currently in progress. There were indications of significant accumulation by large investors prior to this uptrend. Interestingly, even as this rally extends, these investors continue to acquire LINK tokens.
Moreover, the count of distinct addresses engaging with LINK climbed to nearly 5,000. On the same day, the Chainlink network recorded over 800 million in trading volume.among the whales has pushed the crypto to post 33% weekly gains. At the time of writing, LINK is trading at $10, a level last seen in May 2022.One of the main factors catalyzing the rally is the launch of its highly anticipated Chainlink Staking v0.
While v0.1 served as the initial Staking program, v0.2 has been designed into a “fully modular, extensible, and upgradable” Staking platform.Google’s Swift Move Towards Web3 Adoption: Advancements and ImplicationsSix Important Considerations for the Ethereum Price Going in Q4 2023
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