🔴Amazing Reason CHAINLINK Is pumping! Crypto bullrun is back

By Ishfaq_Khan | Crypto Analyzer Pro | 24 Oct 2023


This one is for the Link Marines is the crypto Bull run.If you were around in 2020, Chain Link ignited D5 summer of 2020 and really ushered in the Bull y'all.Remember those crazy farming food tokens Anyways and the last link link is up over 35%.We broke out of the four to $9 accumulation zone.But what is fuelling this link run?We know the Chain Link is one of crypto's most popular oracles which essentially helps aggregate correct price data for all of D5D5.Would have a hard time functioning without it.Price action could be due to the growing popularity of its CCIP.It's a recently launched tech stack upgrade aimed at simplifying cross chain transactions.Early adopters include Avalanche, Etherium, Optimism, Polygon, as well as Defy Lending Protocols, Ave.and Synthetics.CCIP created a standard communication system between different blockchains, basically interoperability, which means the ability for two completely different technologies to communicate.It's similar to two separate languages being able to communicate as well, let's say for example Chinese to Spanish or vice versa.

Anyways, Chain Link also has integrated CCIP into base, letting devs build secure cross chain applications and services.NACE is Coinbase's native blockchain and no, there's not a token so don't get duped Anyways, the next fundamental reason Chain Link could be pumping is because of Chain Link staking version 0.2, which is going to be launching later this year.The new features include unbonding mechanism, liquor rewards, stake slashing, modular architecture, dynamic rewards and node operators can be penalized with stake slashing.Modular architecture allows adding new Oracle services without migration.Potential for additional rewards from user fees will also be there as well and there's going to be a seven day priority migration for existing V 0.1 stakers.Now there's some speculation on Lynx Pump and it has to do with the whales and the centralized exchanges.Both exchanges accumulated a total of 945,000 link, approximately $9 million during the price increase.And at one point bit thumb stopped accumulating and transferred out 220,000 link equivalent to $2.05 million.And the price of link also began to drop from its highest point.And let's do a quick analysis of the holders Exchanges hold 202.6 million link equal to 1.9 billion or 20% of the supply.There's also a 37.5 million link stakes by holders approximately 35300 and $55 million.And there are many other giant whales out there.One whale with 81 addresses accumulated 11,000,000 worth of link which is close to $80 million from finance December 19th.And yes, there's many other whales.

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Ishfaq_Khan
Ishfaq_Khan

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