๐The driving force behind Chainlink's price increase is Chainlink Staking v0.2?
โ In the short term, Chainlink Staking v0.2 allows staking of 45 million LINK, equivalent to 4.5% of the maximum total supply and 8% of the circulating supply.
This is about LINK worth 360 million USD (Price 7 USD/LINK).
With a current 24-hour trading volume of 1 billion USD out of a total capitalization of 5.1 billion USD. That may be the reason LINK has increased sharply in recent times.
---
๐ However, actual Staking activities have not helped the Chainlink network much at the present time.
๐As you can see in the image below, Staking v0.1 only supports providing price data of ETH/USD but no other data.
=> So its impact on the network is still quite small.

๐How many people can Chainlink Staking reach?
๐ฐ With a total pool of 45 million LINK. In there:
โ 40,875,000 LINKs for the Community, each wallet has a maximum of 15,000 LINKs => Equivalent to a maximum of 2,725 wallets.
โ 4,125,000 LINKs for Node Operators, each node has a maximum of 75,000 LINKs => Equivalent to a maximum of 55 node operators.
๐ This number has increased from 31 Node Operators in v0.1 and reaches at least 2,725 community wallets that v0.1 does not have!

๐Does Chainlink CCIP bring value to LINK?
Answer: Both YES and NO
๐ No, because projects using Chainlink CCIP do not need to pay fees with LINK but can pay with blockchain coins. This unintentionally reduces the applicability of LINK coin.
โ Yes, because CCIP's development will bring positive effects to the Chainlink Economics 2.0 network in general.
=> From there, it reflects on the price of LINK in the future (long term).

๐Should I buy LINK now?
๐ In my personal opinion, no. You shouldn't be FOMO!
๐ If you want to buy, the best time is when the sideway price is at $6-$7, which is also the time when I wrote a comprehensive analysis of Chainlink (with 5 parts).
Now that it has just increased strongly, you should wait for the wave to return to the $8 support zone because Chainlink is still a good project and will be there for a long time to invest in.
#bitcoin