Chainlink's LINK Reserve converted fees into tokens, raising its price by 9.14% to $17.66.
Over $1 million of LINK has been reserved, reducing sell-offs and building a solid future.
The market cap of LINK reached $11.98 billion, driven by optimism about decentralized finance (DeFi) and its real-world applications.
Chainlink recently launched a revolutionary transformation in the LINK Reserve. This new configuration converts major corporate fees into LINK tokens, raising its price by 9.14% to $17.66.
The currency also witnessed notable activity, with trading volume increasing by 40% to over $589 million. This move makes the value of LINK depend on actual usage, not just market hype, and has attracted significant interest from investors.
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The reserve plan paves the way for LINK's growth.
Imagine LINK Reserve as a digital vault collecting tokens from fees paid by companies and Chainlink services. This vault exchanges payments for gas tokens or stablecoins for LINK using platforms like Uniswap V3.
They have already collected over $1 million of LINK and plan to leave it untouched for years, keeping selling pressure low. Now, half of the storage fees are paid to the reserve instead of to the people managing the network, establishing a strong and long-term business plan.
Chainlink supports over 2000 blockchains, with a value of $80 billion for projects like decentralized finance and global payments. Users can track the reserve's progress on a public dashboard.