Passive income opportunities are one of the biggest draws in the cryptocurrency ecosystem because it gives investors an easy opportunity to grow their portfolio size regardless of the day-to-day price action.
The latest token to get a bump in its price after announcing the upcoming implementation of staking is Chainlink (LINK), the decentralized oracle network that provides important off-chain information needed for the proper functioning of smart contracts.
Data from Cointelegraph Markets Pro and TradingView shows that since bouncing off a low of $6.67 on June 4, the price of LINK has increased 35% to hit a daily high of $9.00 on June 7.
Here’s a look at what the new developments in the Chainlink ecosystem that could be backing today’s price rally.
Staking LINK has been years in the making
The ability to stake LINK has been a sought-after capability for several years now because Chainlink has consistently been the largest oracle project in…
