As the world of cryptocurrencies continues to expand, new and interesting projects are emerging in an attempt to cover the gap between the traditional worlds of finance with that of cryptocurrencies.
One such project is Chainlink (LINK) which is attempting to bring interoperability to the blockchain industry.
In this Chainlink price prediction article, we will get to know the future of LINK price and its overall possibilities. Let us look into detail in this now.
What Is Chainlink?
Chainlink is unique compared to other blockchain projects. The business model is solely focused on the creation of smart contracts for the outside world. Chainlink hopes to decentralize the Internet to bridge the gap between blockchains and the applications that exist in the real world.
The Chainlink system has a decentralized network of Oracles, so that smart contracts can safely interact with off-chain platforms. Chainlink was created and formed by an organization called SmartContract, which was founded in September 2014 by its CEO Sergey Nazarov and CTO Steve Ellis.
Chainlink node operators extract data from off-chain systems and convert them into blockchain compatible formats. They are awarded LINK cryptocurrency – an ERC-20 token based on Ethereum. According to the developers, the price of LINK is closely correlated to the number of node operators.
Did You Know? The ICO was organized on September 19, 2017, and the $32 million fundraising goal was achieved. Back then, Chainlink ICO price was $0.11 (ETH was accepted as the only means of payment), and the ROI achieved x15 in USD, x26 in ETH, and x6 in BTC.
Chainlink [LINK] Price Today
This important crypto which has already attained more than 20% loss within the last one week is recording some gains this time.
Several traders are bullish on LINK and prices may act rarely bullish in the short term.
The Coin is up by over 245% in the last year and around 76% within the last month. Although it lost 0.6% in the last hour, LINK is positive in the daily timeframe.
LINK is trading at $9.45 and its market cap is revolving around $3.2 billion.
Chainlink (LINK) Technical Analysis
LINK was funded with an ICO and managed to raise USD 32 million in September 2017. During its private token sale campaign LINK cost USD 0.09 per token and USD 0.11 during its public sale.
Then in the year 2018, the coin had a nice start doubling from $0.15 to $0.43 per coin. It had several price hikes, which increased the price of the currency to $1.
In June 2019, news broke on Twitter about a potential cooperation with Chainlink and Google Cloud. As a result, the price of LINK jumped from $1.19 to $1.93. Later, the coin grew further to $2.24 when it was listed on Coinbase.
By the time LINK appeared on the exchange, it had reached $4.45. By the end of August, the price of ChainLink had again decreased to $1.61.
Chainlink Price Prediction 2020
ChainLink saw a significant price movement in January 2020 and ended in February. During this period, the coin managed to grow from $1.74 to $4.60 in the short time frame.
In March, it crucially fell back to its previous price point of $1.74. In April, it managed to recover, climbing back to $3.
Then on July 7, 2020, the LINK price underwent an impressive surge as China’s national blockchain network, the Blockchain Service Network (BSN) was activated with 135 nodes integrated with Chainlink price oracles.
The news saw the LINK price surge from around $4.87 USD to an all-time high of $5.60 USD, with gains of 15 percent on the day
Chainlink continued an ascending trendline into mid-August, gaining bullish momentum. Into late September 2020, it saw sudden bearish activity before beginning its climb once again into October.
According to CoinmarketCap, the cryptocurrency has now broken into the top 10. Before the end of 2020, Chainlink is most likely to gain more against its USD pair and touch around $15
Chainlink Price Prediction 2021
Owing to numerous bullish market sentiments about Chainlink, the coin is predicted to match on to $30 by the end of 2021. This is a very conservative prediction as many market predictions point to higher numbers.
Chainlink 5 Years Price Prediction
By the end of 2025, Chainlink will see explosive growth and may be hovering around $130 per coin. This prediction leave towards those of several predictions pointing to a bullish decade for the top cryptocurrency.
Chainlink [LINK] Market Prediction
#1 Crypto Rating Price Prediction:
According to crypto rating, “it is worth monitoring our Chainlink price prediction algorithm: Chainlink might still have investment potential if not short term in 2020, then long-term. Considering a coin for good return in 3 to 5 years, LINK might be the coin to watch closely now.”
The current Chainlink price is $3.79, its circulating supply is 350 000 000 LINK. Our algorithm predicts that based on historical data Chainlink price will be at $5.32 in 1 week and $3.67 in 1 month.
Our deep learning algorithm predicts the LINK price will be at $5.84 in 6 months. Cryptocurrency market analysis shows that Chainlink price may trade at $15.51 by 1st of January 2021.
#2 Wallet Investor (WI) Chainlink Price Prediction
The prediction by WI paints LINK as an awesome long-term (1-year) investment. The prediction suggests that ChainLink price can go up from 2.080 USD to 5.020 USD in one year. The long-term earning potential is +141.33% in one year. The future price of ChainLink (LINK ) in 2024 will be 16.491 USD.
Taking note of WI data, ChainLink (LINK) and potentially its market environment has been in a bullish cycle in the last 12 months.
#3 DigitalCoin Chainlink Price Prediction
Chainlink (LINK) price will increase. Chainlink (LINK) is a profitable investment. Chainlink’s price (LINK) as expected, can roughly be up to $1.88 USD in about a year time a 1X nearly from the current Chainlink price.
#4 Trading Beast Price Prediction For Chainlink
Trading beast forecasts Chainlink price to reach $1.92846. According to their analysis, the expected highest price is $2.43788, and price is viewed to be $1.65776 at the lowest level. The Chainlink price prediction for the end of the month is $1.95030.
In 2021, their analysis predicts that Chainlink price can be around $2.05409. In 2022, the LINK won’t change a lot. Only $2.23177 for a coin.
#5 Coin Fan Chainlink Price Prediction
Coin Fan is very optimistic about Chainlink. Their analysis predicts that by the end of 2020, LINK might touch around $12.08, which is way more bullish and optimistic a prediction. They seem very pessimistic in a longer timeframe. In 2023, according to Coin Fan, LINK might fall down as low as $1.07, which is an unbelievable prediction.
Our Chainlink Price Prediction
Our Chainlink price prediction is expected to be driven by the potential interest from large institutional investors and more regulation expected in the cryptocurrency ecosystem. The system predicts that LINK will stay around $15 in 2020, $25 in 2022, $30.71 in 2023, $61.07 in 2024 and $121.78 in 2025.
1) Orion announces exclusive Integration with Chainlink
On Oct 07, 2020, Orion Protocol enters exclusive integration with market leading oracle Chainlink to fully collateralize its decentralized brokerage
2) Adex and Chainlink Integration
On Oct 06, 2020, Decentralized digital advertising platform Adex goes to mainnet with Chainlink Oracles Integration
3) Centaur integrates with ChainlinkVRF
On Oct 03, 2020, DeFi platform Centaur integrates with ChainlinkVRF to add enhanced transparency
- What does Chainlink aim to solve?
Chainlink is one of the crypto projects which pose great competition to the ethereum blockchain. The project serves as a middleware that aims to build bridges (chainlinks) betweens smart contracts residing on the blockchain and data in the outside world.
- Who created chainlink and when?
Chainlink ICO was introduced in 2017 by a company known as smart contracts which was developed by Sergey Nazarov.
- What are chainlink Oracles?
These are bridges which allow several blockchains to interact with off-chain resources such as market data.
- How is Chainlink’s LINK token used?
LINK is used in a number of ways within the chainlink network. It is used for settlements of node operators as well as for collateral insurance on smart contracts
- How LINK can be acquired and stored?
The crypto can be bought on several cryptocurrency exchanges like Binance, Huobi, OKEx, and others. As an ERC20 token, it can be stored conveniently on compatible wallets.