Chainlink recently released a tweet on its official X/Twitter account to talk about its economic growth.
The renowned Oracle solution provider is experiencing rapid growth across its three pillars. These pillars are:
- Increased Monetization: Be it introducing new payment models or day-1 monetization of new services, Chainlink is helping users get the utmost Oracle security at a reasonable price.
- Decreased Operating Expenses: With technological growth, Chainlink is offering cost-efficient services using its SCALE program.
- Improved participation: With Staking v0.1’s launch and the upcoming upgrade for v0.2, Chainlink is witnessing massive network participation from new users.
Given the integrations the platform has been forming, traders have been wondering how they will affect LINK. That is why many traders looked for a precise Chainlink forecast to reassess their LINK investment.
Currently, the coin is trading at 10.84 dollars, showcasing a 6% hike in the past 24 hours. The surge is at a whopping 47% in the past 7 days and 58% in the past year.
Chainlink is capitalizing on the positive outlook by reducing payment friction for users. That is why the network has garnered such monetization and economic sustainability. Moreover, the Oracle service provider is working on features like Payment Abstraction and Universal Billing.
The former is a part of Universal Billing that helps users pay for oracle services in other assets. The payment types for such transactions can expand over time while allowing users to convert the assets into LINK for rewards.
Besides this, the Oracle service provider has also expanded its Chainlink Staking functionalities. It now offers more Oracle services, directing a portion of the fee to stakers for their participation. Chainlink has advised users to keep a close watch on its social media handles, as the network is preparing to announce multiple new developments in the coming weeks.