Graph Blockchain Invests In LINK For Proof Of Stake Mining

Graph Blockchain (CSE: GBLC) issued a very brief press release this morning, revealing the final alternative cryptocurrency that it has elected to place funds into. The announcement follows prior news that the firm had allocated a further $2.0 million towards staking of coins, with the majority of funds being placed into Polkadot and Cardano.

Now, the final portion of that $2.0 million figure has been allocated by the company, with Graph revealing this morning that the funds were placed into Chainlink, also known as LINK. Similar to its other altcoin investments, this investment was done for the purpose of staking to enable more efficient crypto mining.

A total of $500,000 was placed into the digital currency. Further details are reportedly to be released as the project progresses.

“We are very excited to be deploying funds into our third token purchase. We feel strongly that Link will appreciate in value given it has a substantial market cap of over USD $13B, a fixed supply, and is possibly the most important piece of infrastructure in the blockchain ecosystem. Graph understands firsthand how valuable bridging onchain and offchain data sources is to smart contracts and Chainlink is the best solution on the market.”

Paul Haber, CEO of Graph Blockchain

Graph Blockchain last traded at $0.155 on the CSE.

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