Buy the rumor, sell the news? Chainlink (LINK) price drops after staking launch
LINK marines pile in as Chainlink staking launches, but will the event turn out to be a buy the rumor and sell the news event for the altcoin’s price? Chainlink has a busy start to December when it comes to development launches. The Chainlink (LINK) staking program opened up for early access on Dec. 6 and will expand access on Dec. 8. According to Chainlink, staking will further secure the project’s node ecosystem and alerting mechanism: “Stakers gain access to staking rewards for securing the network through timely and valid alerts, and in the future, for slashing and loss protection.” Historically, mainnet launch es and s taking incentives stir up a flurry of blockchain activity and data from on-chain analytics firm Arkham shows a sharp uptick in activity. Chainlink Staking went live 19 hours ago. $LINK marines have flooded the contract with their deposits exceeding 11M Chainlink tokens. Meaning, over $77.7M of $LINK has been deposited in the contract currently. The first, and la...