Chainlink investors and holders might have something to celebrate. The latest Economics 2.0 could be the savior of the struggling and ailing LINK. The new launch will allow Chainlink to increase its revenue capture and fees & increased the network’s security through staking.
Nevertheless, whether the launch can enhance LINK’s plummeting market capitalization is unclear. Chainlink announced the launch on October 14 through Twitter. Also, it highlighted Chainlink’s plan to ensure multiple enhancements & alterations to the present network functioning.
About accumulating revenue from network fees, the blockchain revealed about helping pre-revenue decentralized applications. Meanwhile, LINK would share its technical support and oracle services with the Dapps. In exchange, the decentralized applications would have some of their coin supply joining LINK as fees.
Other improvements included enhanced security and lower costs. The events had LINK’s development activity surging within the previous week. Meanwhile, that could be a massive confirmation that Chainlink developers worked on new features and platform development.
Furthermore, the crypto noted an uptick in network growth, suggesting that new addresses transacting LINK for the initial time increased. That indicated an uptick in interest by new wallets toward Chainlink.
Can It Ever Be Adequate?
LINK had more in store for its investors besides the mentioned positive development. Whales and institutional investors confirmed a renewed interest in the alternative token. WhaleStats, a platform for tracking cryptocurrency whales, tweeted that Chainlink joined the top ten bought coins by 500 leading ETH whales over the past day.
Nevertheless, regardless of the substantial interest from large wallet investors, Chainlink presented stagnant signals in areas such as market capitalization and rate. Santiment’s chart shows LINK’s velocity declined over the last few days.
That meant the number at which LINK changed wallets per day dropped. Such developments & LINK’s falling market capitalization might mean bearish signs for prospective investors. Besides the mentioned decline, LINK plummeted by 3.40% within the previous day, changing hands at $6.87 during this publication.
Also, its volume declined by 40% in that timeframe. Nevertheless, companies trusted the project despite LINK’s bearish price, with continued developments and integration with several organizations within GameFi and DeFi sectors.