The Chainlink price has not reflected positive changes despite a major development in the altcoin’s ecosystem. Over the last 24 hours, LINK has declined by over 4%. Even in the weekly window, the altcoin lost over 6% of its value.
LINK had charted considerable gains in the month of November. The bulls, however, could not sustain the price action as the coin moved southward at the beginning of December.
Chainlink’s price has dropped below the $7 mark. For the coin to turn bullish, it must break past the aforementioned price zone. Investor interest has yet to echo on the daily chart. Chainlink is a blockchain oracle network that has launched its staking feature. This shall help to enhance the economic security of the platform’s services as a whole.
This development is supposed to be a vital part of its “Chainlink Economics 2.0” effort, which is aimed at promoting better security and ensuring sustainable growth within the ecosystem. The technical outlook has displayed a fall in accumulation, and at the current price, LIN ..
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