Chainlink (LINK) is an ERC-677 token that powers Chainlink. Chainlink is one of the pioneering blockchain oracle projects launched in 2017. Chainlink’s oracle solution provides universal connectivity for smart contracts by introducing off-chain data into the blockchain.
Since any blockchain is a closed system, it does not allow the exchange of information with the outside world by default. At the same time, DeFi and dApp developers have a lot of demand for such data. The alternative solution to this problem has its shortcomings: centralized oracles may be insecure, because any of them may be a single point of failure, and building the oracle function directly into the blockchain will bring scalability issues , Again brings safety issues. Chainlink’s oracle does not have these problems. It provides a safe, fast and extensible security layer that can be customized and deployed at any time. In addition to standard oracle services, Chainlink also provides randomness functions for encrypted games and enterprise-level blockchain connections. Chainlink node operators pay in LINK tokens, which are also used as collateral.
For a period of time after the 2017 ICO, Chainlink’s transaction price was mostly less than $1. This continued until the Chainlink mainnet was launched, when the price began to rise, from approximately US$0.5 in April 2019 to approximately US$3.5 in July of the same year. This was followed by a period of slight decline and relative calm, which lasted until the beginning of 2020, during which the price remained in the range of approximately US$1.5 to US$2.5. Since then, Chainlink’s price has risen again, reaching around US$4.7 in March. These fluctuations can probably be explained as, as the Chainlink team pointed out itself, people’s interest in oracle network security is cyclical, and it will flood in whenever the number of dApps using oracle services reaches a certain number. This trend has since continued: after a correction in the late spring of 2020, the price of Chainlink rose to approximately US$19 in August, and then fell again, reaching approximately US$34 in February 2021. It reached its next peak in May. The year when Chainlink’s price soared to nearly $53. In the summer of 2021, prices fell again, and by July the transaction price was 13-14 US dollars. However, one can argue that this is only part of the cycle, and Chainlink will soon carry out the next price increase.
For most of the first half of July 2021, Chainlink’s price has been moving in a downward channel. Please note that the candlestick chart during this period is very short, which may indicate price consolidation, combined with the channel mode may mean that the price will break out as soon as the bulls gain a little confidence. On the other hand, the price fell below the previous support area of about 15-16 US dollars. Understandably, this does not bring much certainty to Chainlink’s future. Until mid-July, a descending triangle pattern could be observed, but it failed to end with a breakout, which is further supported by the fact. There is still a chance of LINK retracement, but it is best to observe for a while. At the same time, as usual, analysts remind traders to set stop losses in their trades at the appropriate time.
Below we have collected Chainlink (LINK)’s most reliable price predictions from popular prediction platforms.
According to WalletInvestor, the price of Chainlink will rise from US$22.21 to US$40.862 within one year. This makes LINK a great investment. The long-term profit potential is 83.98%. The forecast price at the end of 2026 is $128.490.
When answering the question about whether Chainlink is a good investment, TradingBeasts gave a resounding negative. From the perspective of 2021, the price of the token is expected to reach US$21.360 and drop to US$20.363 by the end of 2022.
In DigitalCoin analysis, the price of Chainlink cryptocurrency will rise from today’s USD 23.1965 to USD 90.046151 in the next 5 years. By 2022, it will rise to 38.5993845 US dollars and begin to decrease in 2023-2024. Based on this prediction, Chainlink is a profitable long-term investment.
In 2021, the average price of Chainlink will rise to $24.203. In 2022, the price of Chainlink will rise sharply to an average of US$40.4.
It is clear from the analysis cited above that Chainlink (LINK)’s forecast is quite contradictory. There is no general consensus on the positive or negative price trend of LINK in the future. In fact, the possible future growth depends on various factors: announcements, new technical solutions for the Chainlink project, overall encryption environment, legal status, etc. We would like to remind you that you must conduct your own research (DYOR) before investing in any cryptocurrency.
Chainlink token (LINK) is a token used in the Chainlink blockchain oracle network. LINK is used to pay for services provided by the network, such as data requests, and to protect the network.
Yes, according to some experts including Walletinvestor.com, Chainlink can reach $100. Keep in mind that although this is an achievable goal, sources usually include it in Chainlink price forecasts for 2025 or later, so this is definitely a long-term investment.
Chainlink needs a token to facilitate the process of the network-like most other crypto tokens, LINK is the core of the system. Without Chainlink coins, network participants will have no incentive to contribute their work or remain honest.
Obtaining Chainlink tokens is easy because they are traded on many exchanges and because Chainlink is one of the most popular blockchain projects. You can get LINK on SwapSpace in just a few simple steps — we will help you get the best price.
According to various sources, Chainlink is definitely a good investment—especially a long-term investment. It is expected to either become a slow but reliable growth asset, similar to a more traditional investment, or to skyrocket in price-either way, the forecast is optimistic.
According to some analysts, by the end of 2021, Chainlink will be worth more than $25. Most of Chainlink’s price forecasts for 2021-2025 promise further growth, and some even stated that it will exceed the $100 mark by 2025.
Disclaimer: This article should not be considered as providing trading advice. The cryptocurrency market suffers from high volatility and occasional arbitrary fluctuations. Any investor should research multiple viewpoints and be familiar with all local regulations before investing.
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