Chainlink Will Not Provide Support For Ethereum Hard Forks After Merge
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Chainlink’s website had the below text on one of its pages:
“The Chainlink protocol and its services will remain operational on the Ethereum blockchain during and after the Merge to the PoS consensus layer. Users should be aware that forked versions of the Ethereum blockchain, including PoW forks, will not be supported by the Chainlink protocol.”
Furthermore, Chainlink recently told Ethereum developers and dApp teams “who are unsure of their migration strategy surrounding the Merge” to suspend smart contract activities, to “avoid unforeseen incidents and help protect end users.”
Chainlink further explained that it is doing this because “dApps operating on forked versions of Ethereum, including PoW forks, might behave in unexpected ways due to both protocol and application-level issues, introducing increased risk for users.”
Regardless, the LINK development team assured that they would “continue to monitor any developments surrounding the Ethereum Merge to ensure the utmost level of reliability of Chainlink services.”
Key Chainlink Levels to Watch — August 8
LINK has posted an aggressive 12% rally over the last 24 hours, tapping a near two-month peak at $8.74. The cryptocurrency also recorded its highest bullish trade volume on Bittrex since May, highlighting the notable expectations of a bullish rally in the near term.
That said, bulls need to be cautious of impending ease in pressure for LINK leading to a possible return to the $8.00 mark.
Meanwhile, my resistance levels are $9.00, $10.00, and $11.00, and my support levels are $8.00, $7.30, and $6.00.
Total Market Capitalization: $1.14 trillion
Chainlink Market Capitalization: $4.08 billion
Chainlink Dominance: 0.35%
Market Rank: #24
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