Chain link [LINK] holders and investors can have reason to rejoice. New Economy 2.0 can be the key to saving a sick and struggling person LINK. The last launch will allow Chainlink to increase its fees and revenue capture as well as increase blockchain security through staking.
However, what remains to be seen is whether this new launch can improve Chain linkdeclining market capitalization.
Meet AMBCrypto Price prediction for Chainlink for 2022-2023.
Chainlink made the announcement on October 14 via Twitter. Additionally, Chainlink provides to make many improvements and modifications to the current operation of the network.
1/ The purpose of #Chain link Economy 2.0: Unleash the immense value of Web3 by ensuring it has the sustainable and secure infrastructure it needs to go mainstream.
Econ 2.0 is based on:
• Increased fees and revenue capture
• Reduced operating costs
• Increased security through staking pic.twitter.com/wAMI9vLZlu
—Chainlink (@chainlink) October 14, 2022
In terms of generating revenue from fees, the blockchain has announced that it will help pre-revenue dApps. Chainlink would share its oracle services and technical support with dApps. Additionally, in exchange, dApps would commit a portion of their token supply to Chainlink as network fees.
This can be a strong indication that Chainlink developers were making progress in terms of development and new features. Additionally, Chainlink’s network growth has also seen a slight increase, indicating that the number of new addresses transferring Chainlink for the first time has increased.
This implied a spike in interest from new addresses to LINK.
Will that ever be enough?
The aforementioned development was not the only positive development as LINK had something more in store. Institutional investors and whales have also shown new interest in Chainlink.
– WhaleStats (crypto whale tracking) (@WhaleStats) October 14, 2022
However, despite significant interest from huge investors, some areas, such as velocity and market capitalization, showed signs of stagnation.
As can be seen in the image below, Chainlink’s speed has seen a decline over the past few days. It meant that tThe average number of times Chainlink changed wallets each day has seen a decline. This factor, along with Chainlink’s declining market capitalization, could be seen as a bearish signal for potential investors.
In addition to the drop mentioned above, Chainlink depreciated by 3.40% in the past 24 hours and was trading at $6.87 at press time. Its volume also depreciated by 40% over the same period.
However, despite Chain linkbearish price action, businesses continued to trust the Chainlink team as integrations and developments with multiple organizations in the DeFi and GameFi spaces continued to happen.