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Tuesday, January 31, 2023

Chainlink Opened With Busy December 

Chainlink development launched with a busy December. It started on December 6th and will continue till the 8th of December. The main motive of chainlink is secure the project node’s ecosystem. It has already flooded with 11M LINK tokens with 19 hours long live.

Over $77M Chainlink Has Been Deposited

The next chainlink staking is on 8th December, and the staking range is reduced to 1 to n0.1 LINK. However, the current LINK is covered with 25 million LINK. The LINK price has been losing 4% since 6th December. Early access to the LINK program has been covering 7000 LINK per person’s staking. Despite all the difficulties the staking program collected more than 11M chainlinks on 6th December.

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The new LINK emission is threatening investors. According to new emissions, the community members who are in the staking are expected to receive a 5% annual percentage and the other 7% for node operators. Not only this but community members who are in staking are expected to lose 0.25% of their fees to those who are operating the nodes. These nodes are extremely sensitive and these terms are making them more delicate so there is a possibility for chainlink to become more hyper-inflationary without proper fees backing them up.

LINK updates aren’t responding well to recent developments updates, and staking rewards are locked for 9 to 12 months. On the 30th day, the LINK was peaking at $9.30 however, it dropped to $6.80 on the 7th of December. It happened just after the development launch.

LINK has a brighter and positive future and may provide us with beneficial longevity but currently, it’s not responding in such a manner that would be beneficial in the long run.

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There is a long road ahead for chainlink to prove its emission trustworthy, which could gain investors’ trust and give them some scope to prove its staking dynamics properly.

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