Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
According to a recent tweet by IntoTheBlock on-chain data aggregator, LINK investors are actively trying to earn on staking that has been announced by Chainlink recently.
"LINK marines are back"
IntoTheBlock has announced that since Chainlink has announced the beginning of staking on its blockchain, the number of daily active wallets has surged from 1.41K on June 5 to 2.32K yesterday on June 8.
The tweet says that the coin has been on the rise and has been outperforming the crypto market since Chainlink spread the word about staking, which was on June 7.
The marines are back.$LINK has been on a consistent uptrend and outperforming the market since the staking was announced.$Link has been experiencing an uptick in the number of daily active addresses, increasing from 1.41k on June 5 to 2.32k yesterday.https://t.co/sV6Aix1OiL pic.twitter.com/CsExbQoYwa— IntoTheBlock (@intotheblock) June 9, 2022
Chainlink staking announced
According to the blog post by Chainlink, the main objective of introducing staking is to increase both cryptoeconomic security and make users more assured of Chainlink's oracle services.
Users will be able to lock up their LINK tokens to ensure a service-level guarantee around how well the network will perform in the future.
This way, Chainlink nodes will be incentivized to keep producing accurate oracle reports and deliver them in a timely manner.
In the long run, stakers will be able to receive rewards from various sources on Chainlink network as its adoption keeps expanding.
Since the announcement of the staking launch, LINK has added 21.5% within two days, now trading at $9.44 but still 82.89% below the all-time high of $52.88 reached on May 10 of last year.