In recent years, the cryptocurrency industry has become one of the most adopted spaces for generating income. The reason behind the unmatched growth of the crypto-verse is the passive income-earning opportunities it has to offer.

While many projects make the claims of offering passive income opportunities, only a few live up to their claims. The reason why many investors choose to go for passive income opportunities is that they don’t have to go through much hassle.

Once the investors make an investment in a passive income program, they don’t have to worry about the price changes that take place day by day. Instead, they are able to increase their portfolio based on the agreed return amount or percentage.

Chainlink (LINK) is earning that Recognition

Just recently, Chainlink has emerged as one of the most successful and highly attractive tokens. The reason why LINK has gained so much attention is because of the staking implementation it has carried out on its protocol.

Chainlink is prominently known for smart contracts’ proper functioning, whose information is acquired through off-chain sources.

The report shows that on June 4, LINK’s trading price was at a low of $6.67. However, it soon bounced higher and by June, LINK’s price had surged by 35%. Following the bounce, LINK’s trading price shot up to a high of $9.00. The performance graph shows it had reached the price by June 7.

Still, the trading price of LINK is hovering near the same benchmark. This is a positive indication for LINK and also goes to confirm there are unique factors that are supporting it during the harsh times.

Two Reasons behind LINK’s Recent Growth

For many years, the developers of LINK were working on the launch of its staking program. Finally, after years of hard work, the staking for LINK is now possible.

For many years, LINK has maintained its reputation as one of the largest oracle projects in the overall ecosystem offered in the crypto-verse. Therefore, it had become extremely important for LINK to find a way to offer earning opportunities to its long-term and loyal investors.

The second reason behind LINK’s growth is the new roadmap it has introduced. Apart from announcing its launch of staking, Chainlink has also announced the launch of the Proof of Reserves (PoR) protocol.

With the help of the PoR, the companies that have cryptocurrency holdings will be audited with ease. The auditing process will be carried out through the use of an automation process. The process will offer great leverage to companies through the transparency of oracles, smart contracts, and blockchains.

Through the PoR protocol, the funds of the users will be protected from any fraudulent activities as well as fractional reserve practices that are unforeseeable.

Taking the recent implementations of LINK into consideration, both LINK and Decentralized Finance will be able to gain significant growth in the near future.