Is Chainlink a Good Investment?
Is it Good to Invest in Chainlink?
Learn more about Chainlink will push you ahead to know if it is a good idea to invest in LINK coin.
Chainlink (LINK), unlike other digital assets in the decentralized finance space, has been extremely different with regards to the service it aimed to provide during its inception.
Many industry experts and crypto enthusiasts were left with gaping mouths when LINK launched in 2017 and pointed out that “It has found a way to reliably and efficiently provide accurate data to smart contracts on a smart-contract enabled blockchain”.
After a difficult start to 2020 due to the coronavirus pandemic affecting the financial market, the novel token of the network, (LINK), rebounded with a 530% rise to end 2020. This signaled increased investor interest in the crypto trading space for the crypto asset.
With several challenges on the horizon, ChainLink is to decentralized oracle what Ethereum is to decentralized finance (DeFi).
As Cardano (ADA) and Tron (TRX) look forward to providing here-and-now innovative protocols which see will see them oust Ethereum (ETH) to gain a huge share of the DeFi market which has over 44 billion locked in projects, LINKs status and advantage of being a first mover is under serious threat.
With competitors such as Band Protocol (BAND) which run on the Cosmos network, Decentralized Oracle Service (DOS), Tellor Protocol (TRB), Decentralized Information Asset (DIA) and Nest Protol (NEST) bringing new innovative blockchain solutions to solve the difficulty in connecting outside information sources to blockchain smart contracts in a common language, will Chainlink survive?
Will the digital asset which has broken boundaries in blockchain technology beat off the competition and be tagged as the “king of oracle decentralized solutions”?
Or, will the crypto asset be knocked off its perch for the competing technologies to be categorized as “Chainlink Killers”?
Analyst Skerdian Meta of FX Leaders has strongly opined that there will be a bullish run in the price of the oracle decentralized token.
As per the price forecasts of Skerdian Meta, Chainlink (LINK) will trade between the price of $50 to $60 by the end of the 2nd quarter of 2021.
This will be motivated by drivers such as many traders and investors resorting to LINK as a safe haven investment, skeptics and novice investors trying their hands on trading and long-term investment with their stimulus packages and positive market sentiment for cryptocurrencies.
The analyst who writes for the online news portal which is the home for forex traders (provides best forex signals, trading news, market analysis and forex strategies) sees LINK increase substantially from its price from the 2nd quarter and trade for a price between $100 and $120 by the end of 2021.
Digital Coin Price on the other hand sees Chainlink as an asset which fits the description of growth investors. At a current price of $28.65, Digital Coin Price sees a run to several price milestones which will see LINK trade for a coin at $68.4 by the end of 2024 and more than two times that price by the end of 2028 which is represented by a price of $121.54.
Such a bullish aura around LINK has enormous grounds. This is why the cryptocurrency has returned 157.02% Year-To-Date (YTD).
On March 17, 2021, it was reported in an article by Coindesk that Grayscale has offered New Trusts to invest in five more cryptocurrencies including Chainlink (LINK).
Grayscale is the world’s largest digital asset management firm in the world and after making acquisitions in Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), it has now set its sights on the decentralized oracle solutions provider.
On his twitter handle, @Sonnenshein, Chief Executive Officer (CEO) of Grayscale tweeted updates to a digital assets under management and excerpts of the tweet go, “Announcement: 5 new products have been added to the @Grayscale line up! Basic Attention Token $BAT, Chainlink $LINK, Decentraland $MANA, Filecoin $FIL, Liverpeer $LPT''.
Michael Sonnenshein in an interview with Bloomberg pointed out that “At any one time, we are probably maintaining a list of what could be 30 products, could be 40 products that we are interested in bringing to the market”.
Chainlink (LINK) shot up slightly after Michael Sonnenshein’s announcement by 7% and closed March 17, with a trading price of $31.01, reaching a day high of $31.21 on an opening day price of $27.92.
On 22nd March, 2021, Chainlink announced via its social media (Twitter) handle, @chainlink that, “Decentralized Finance (DeFi) liquidity protocol @AI_Autonio will integrate #Chainlink oracles to access asset prices and fetch AI-driven analytics. This data will power their NIOX Suite, an ecosystem of on-chain trading tools & infrastructure including Intelligent Market Makers”.
Autonio responded via its Twitter handle, @AI_Autonio that, “Autonio will be integrating the industry-leading decentralized oracle network @chainlink”.
According to Autonio Foundation, Autonio seeks to democratize trading and crowd source liquidity which will enhance DeFi liquidity and help traders harness the power of the crowd.
It has a primary aim of enabling traders and investors to navigate crypto markets with ease, privacy and a way to profitability. Autonio has an impressive ecosystem that includes among others decentralized exchange (Ox protocol based smartDEX) and Market Making (NIOX Maker).
Autonio currently trades with a ticker symbol NIOX, has a trading price of $0.2706, trade volume of $1,415,716, market capitalization of $19,784,545, circulating supply of 73,100,231 NIOX and a max supply of 300 million on a total supply of 315 million.
Partnering with Chainlink (LINK) means whatever activity happens to the price of the NIOX significantly reflects in the price of LINK and this will go a long way to certify the predictions made by experts with regards to a bullish future of the cryptocurrency, as true.
For the largest digital asset management firm to consider forming a trust in a name of LINK says a lot about the extensive research personnel at the investment firm have done about the potential of the digital asset in the world of decentralized finance (DeFi).
Having shed 3.62% of its price in the last 24 hours, a fully diluted market capitalization of $28.65 billion and a trade volume of $899.06 million, LINK is poised to increase further in the not-so-distant future.
If we are to go by the long-term price forecasts of FX Leaders analyst, Skerdian Meta, that LINK will increase in value in the foreseeable future and trade for a coin at a price range of $200 to $300 based on drivers (safe-haven status, economic recovery and tighter monetary policies), then traders and investors can be rest of a long term potential.
This makes LINK an asset any investor can consider having on their portfolio of investments.
Chainlink (Link): What Is It?
Chainlink (LINK) is a decentralized oracle network that aims to connect smart contracts with data from the real world.
Chainlink can also be referred to as an open-source technology that is collectively developed by a large community of developers, users and researchers who share a common goal of building this oracle network into a public good for the benefit of the entire blockchain ecosystem in the world of decentralized finance.
Extensive reliability, tamper-proof inputs and outputs for complex smart contracts on any blockchain are provided by the decentralized oracle network.
Its ticker symbol and novel token of the chain is LINK.
What are the Chainlink (LINK) Oracles?
Chainlink Oracles can also be referred to as middleware is software that acts as an intermediary which translates data from the real world to smart contracts on Chain’s network and back again.
Chainlink Oracles came about as a result of an increased difficulty in connecting outside information sources to smart contracts on blockchains.
Who Created Chainlink (LINK)?
Sergey Nazarov and Steve Ellis are widely credited as the founders of Chainlink.
Sergey Nazarov is a technology entrepreneur who founded Chainlink in 2017 with a view of providing real-time data to help business organizations in their operations.
He helped found Chainlink Labs (the company behind the blockchain and its novel token which leads smart contract teams, individual developers and large enterprises apply the power of Chainlink to their smart contracts, creating universally connected smart contracts).
He also serves as the Chief Executive Officer (CEO) of the company.
He is also co-founder and chief executive officer (CEO) of SmartContract (formed in 2014), Secure Asset & Exchange (formed in 2014), CryptaMail (formed in 2014) and ExistLocal Incorporation and a General Partner at QED Capital.
Steve Ellis is a co-founder and Chief Technology Officer (CTO) of SmartContract and Secure Asset Exchange. He also worked for Pivotal Labs and served as a Teacher’s Assistant at New York University (NYU).
When Did Chainlink Start Trading?
As per data retrieved from Yahoo Finance, Chainlink started trading on 19th September 2017 with a trading price of $0.16.
Why Was Chainlink Created?
Chainlink was created to expand the capabilities of smart contracts by enabling accessibility to the real-world in a timely manner, payments and events without sacrificing the reliability and security guarantees inherent to blockchain technology.
Where Was It Created?
Chainlink (LINK) was created in the San Francisco Bay Area in the United States.
How Many Links Are In Supply?
There are currently 414,509,556 LINK in circulation on a total supply of 1,000,000,000 LINK which shows that 41% have been mined.
Chainlink (LINK): Will It Be a Good Investment in 2021?
Digital Coin Price sees Chainlink as a profitable investment in 2021 based on its forecasting. The online portal which provides a price chart for all cryptocurrencies predicts $111.64 as the lowest future price and $136.44 as the highest future price of LINK.
Digital Coin Price believes Chainlink will close 2021 with a trading price of $71.48. Analyst Elena R., of CoinPedia sees LINK as a good investment in 2021 because it has gained popularity through its solution which has attracted new fans to its project.
Elena R. believes “The activities of LINK and appreciation among other industry players have increased trust in the company. By the end of 2021, the coin may reach above $50”.
As a crypto enthusiast, one of the key areas you should always look at when assessing a cryptocurrency’s performance (in this case, LINK), is the consideration of the asset’s performance in the previous years (from the trading price on its launch date, down to the year which came before the present year as well as its return, year-to-date).
As per data retrieved from Yahoo Finance, Chainlink (LINK) started trading on 30th September 2017 with an opening price of $0.45 and closed December 31, 2017 with a trading price of $0.60. In the process, LINK brought 33.33% gains to investors.
LINK began the 1st day of 2018 with an opening price of $0.60 and ended the 2nd quarter (June, 30) with a trading price of $0.29. The cryptocurrency which is the novel token on the blockchain closed at $0.29 on December 31, 2018. In the process, LINK brought a 51.67% loss to investors.
The technology which expands the capabilities of smart contracts started the 1st day of 2019 at a price per coin for $0.29, hit a day high of $3.82 and eventually closed the 2nd quarter of the year (June 30) at a trading price of $2.20. LINK soared exceptionally well and closed 2019 with a price of $1.77. In the process, LINK returned 510.34% gains which erased the losses suffered in 2018.
Chainlink opened on the 1st day of 2020 at $1.77, hit a day high of $8.80 and eventually closed the 2nd quarter of the year (June 30) at a trading price of $7.77.
LINK soared above the expectations and predictions of several crypto price forecasts websites and closed 2020 with a price per coin at $11.27. In the process, the technology which has the first mover advantage with regards to Oracle solutions, returned 536.72% gains for investors.
After opening the 1st day of January 2021 with a trading price of $11.27, LINK is currently trading between a 24 hour low and high of $29.28 and $39.46 which has returned 187.02% Year-To-Date (YTD).
Such statistics communicates words like bullish, soaring, long term potential and rally for the digital asset.
Such consistency in performance even during the worst seasons of trading such as 2020 where the pandemic brought the financial market to its knees with parent crypto, Bitcoin (BTC), dropping substantially in price and later on picking up the pieces to finishing the year on the high, LINK returned more than 530%.
Such annual returns have made Gov Capital join the LINK discussion and foresee a short-term rise in price to $48.367955 to close 2021 and a substantial increase in price to $162.742 in the next five years (2026).
Previsioni Bitcoin sees now as the time to buy Chainlink LINK token. The crypto news portal sees the novel token of the chain network surpassing $100 price milestone, which will see Chainlink have a trading price of $138.52 by the year’s end of 2021.
Image: Previsioni Bitcoin
The Economy Forecast Agency (EFA) has forecasted positive patterns for LINK which will see the digital asset close June 2021 with a trading price of $65.69.
The financial news portal specializes in long term price forecasts and predicts LINK to end 2021 with a trading price of $44.63.
The forecasting agency remains optimistic for the foreseeable future and believes any investment made in the month of March or April will surely result in gains as the currency is poised to hit $66.43 at the start of the 2nd quarter in 2025.
Coinliker did a price forecast for Chainlink on 1st December 2020 and predicted that LINK would increase more than 1,960% in a year’s time which is 1st December 2021, where it will be trading at $71.85.
There are other experts who may not be indifferent to the rallying of LINK, with the digital asset’s performances over the last 3 to 4 years, there is a huge potential for growth in the market.
Chainlink has numerous features such as privacy, security and extensive decentralization which will increase its adoption and overall valuation of the asset and bring gains to investors.
With a future to look up to, LINK could be a good investment in 2021.
What Are the Primary Drivers of Chainlink (LINKs) Price?
There are several factors that influence the price of crypto assets.
One of the significant factors you must always consider as a driver of Chainlink price is primarily the performance of Bitcoin (BTC).
This is because a positive price pattern in Bitcoin (BTC) increases the valuation of the digital gold to a range that cannot be met by novice or expert investors with small cap in terms of investment funds. As a result, crypto enthusiasts and skeptics turn to altcoins which include Chainlink.
Price Patterns Of Bitcoin (BTC)
As per data retrieved from CoinTelegraph, Bitcoin (BTC) had a price of $4,403 on 30th September 2017. The digital gold closed the year on 31st December with a trading price of $13,445. BTC returned gains of 205.36%.
As per data retrieved from Yahoo Finance, Chainlink (LINK) started trading on 30th September 2017 with an opening price of $0.45 and closed December 31, 2017 with a trading price of $0.60. In the process, LINK returned 33.33% gains to investors.
Bitcoin (BTC) started the 1st day of 2018 with a trading price of $14,754 and closed the year with a trading price of $3,880. In the process, BTC saw a 73.702% decrease in price.
LINK began the 1st day of 2018 with an opening price of $0.60 and ended the 2nd quarter (June, 30) with a trading price of $0.29. The cryptocurrencies which settles stakes on the blockchain closed at $0.29 on December 31, 2018. In the process, LINK saw a 51.67% decrease in price.
The first cryptocurrency to have a market capitalization of more than $1 trillion, BTC, started the 1st day of 2019 with a trading price of $3,961 and closed the year with a trading price of $7,190. In the process, BTC returned 81.52% gains which erased the losses suffered in 2018.
The first mover in terms of oracle decentralized solutions, LINK, started the 1st day of 2019 at a price per coin for $0.29, hit a day high of $3.82 and eventually closed the 2nd quarter of the year (June 30) at a trading price of $2.20. LINK soared exceptionally well and closed 2019 with a price of $1.77. In the process, LINK returned 510.34% gains which erased the losses suffered in 2018.
Bitcoin (BTC) started the 1st day of 2020 with a trading price of $6,966 and closed the year on December 31 with a price per coin for $29,389. In the process, BTC returned gains of 321.892% increase in price for investors.
Chainlink opened on the 1st day of 2020 at $1.77, hit a day high of $8.80 and eventually closed the 2nd quarter of the year (June 30) at a trading price of $7.77. LINK soared above the expectations and predictions of several crypto price forecasts websites and closed 2020 with a price per coin at $11.27. In the process, the technology which has the first mover advantage with regards to Oracle solutions, returned 536.72% gains for investors.
Bitcoin (BTC) has so far returned 100.50% gains Year-to-Date (YTD) in 2021 while Chainlink (LINK) has returned 157.02% Year-To-Date (YTD).
For a 5 –year period (2017-2021), LINK has followed the price patterns of Bitcoin (BTC). In a bullish season, both rallied, in a bearish season, both dropped massively in prices.
As a trader or investor, do not take your eyes off the trading price of BTC. As a result of its volatility, you may suffer losses you may not recover from or may miss great investment opportunities to make gains from other cryptocurrencies (altcoins) such as LINK in the near future.
Bitcoin (BTC) is the standard and whatever direction the crypto asset takes, all the altcoins follow.
With an eye on BTC, analyst Sheldon McIntyre of FX Street has opined that “Chainlink price is primed for a volatile move as it sits in a pivotal point. A bullish continuation pattern projects 33% gains post-breakout. The health of the previous uptrend favours a resolution to the upside”.
With this, the analyst who writes for the online portal which provides reliable news and real-time forex analysis sees LINK marching towards a new all-time high of $53 in the near future.
It may come as a surprise to several novice traders and investors but a major price DRIVER for Chainlink is its partnerships in terms of INTEGRATIONS.
Currently, there are over 320 Chainlink integrations. One of them is AGORIC.
AGORIC has a primary purpose which is to empower individuals to securely execute transactions, establish new markets and craft novel patterns of exchange in a decentralized manner (without any centralized control).
This partnership will help AGORIC to use Chainlink technology to develop new products in a quick manner without creating custom data feeds which in the long term helps developers to pull together decentralized applications (DAPPS) effectively.
A representative of AGORIC pointed out that “Chainlink oracle solution is able to provide high-quality data regarding prices, FX rates, interest rates, and more, in a safe and reliable way. Chainlink uses blockchain to ensure data cannot be manipulated or tampered with. It can use data coming from other blockchains or directly from the real world”.
Co-founder of Chainlink, Sergey Nazarov in an interview with Decrypt (an online portal which provides news on Bitcoin, Ethereum and Web 3.O), pointed out that “We have arrived at economics that makes sense it costs less for a user to use one of our oracle networks, with seven (7) to twenty-one (21) nodes, than it does for them to broadcast from one (1) node.
Another Decentralized Finance (DeFi) protocol, SYNTHETIX has integrated with Chainlink.
According to synthetix.io, SYNTHETIX is a derivatives liquidity protocol which provides the backbone for derivatives trading in Decentralized Finance (DeFi) by allowing anyone no matter where they are on the face of the planet to gain on-chain exposure to a diverse range of assets.
Representatives of Synthetix said of the partnership “Chainlink (LINK) will enable decentralized price feeds across the Synthetix trading platform and will allow anyone to build and run an oracle to obtain price feeds for synthetic assets for the recently launched Synthetix Exchange”.
As at the time of writing, Synthetix (SNX) is performing extremely well as per data retrieved from Coin Market Cap.
The decentralized finance asset is trading at a price of $18.27, with a market capitalization of $2.09 billion and a trade volume of $108.96 million in the last 24 hours.
After this integration, SNX has formed integral partnerships which have seen it soar substantially in 2020 and 2021. With a linkage to LINK, all activities on SNX are reflected in the price of Chainlink.
Evidently, the two assets reached their all-time highs in the month of February, 2021; with Synthetix (SNX) reaching $28.77 on 14th February, 2021 and Chainlink (LINK) reaching $36.83.
LINK has two (2) other distinct partnerships which have great investor interest in the name of Yearn Finance and AAVE.
Yearn Finance (YFI) is a decentralized yield aggregator on Ethereum which uses automation to allow investors to maximize profits from yield farming. As at the time of writing, Yearn Finance was trading at $33,851.83, has a market capitalization of $1.24 billion and trade volume of $195.19 million in the last 24 hours.
Aave is a decentralized finance (DeFi) protocol that allows people to borrow and lend cryptocurrencies and related assets. At the time of writing, AAVE was trading for a token at $337.53, had a trade volume of $222.88 million and market capitalization of $4.21 billion in the last 24 hours.
These two (2) protocols lead the way in terms of yield aggregation and lending in the decentralized finance space.
With millions of dollars in trade volumes and market caps that crosses the $1 billion mark, such a partnership will bring nothing but growth to corresponding oracle solution asset, Chainlink, which will see it increase substantially in the near future.
Such partnerships are what have made Wallet Investor forecast an increase in the trading price of Chainlink to $56.625 for the digital asset at the end of 2021.
Will Chainlink (LINK) Continue to Soar?
Chainlink could continue to soar for the foreseeable future as per the fundamental and technical analysis of analyst, Elena R., of CoinPedia.
“With more partnerships, a large treasury of reserve funds, and an in-demand service, it seems as if Chainlink (LINK) is well-poised to handle any challenges that may crop up in time. Chainlink will see exponential development by the end of 2025 and will be tethering about $500 a coin”, the analysts opined.
Based on its logical algorithm, experts at Crypto Rating have made a forecast which will see LINK continue to soar in the coming months up to one year. The rating agency foresees a short-term rally for the crypto asset as well as a long term potential with fruitful rewards. LINK will end 2021 with a trading price of at least $60.39.
Although it runs on Ethereum (ETHs) network, Chainlink has not succumbed to making business deals with assets that are only related to the king of decentralized finance.
Chainlink’s partnership with Tezos (XTZ) will be extremely beneficial to developers on Tezos by providing them with the most reliable and secure oracle solution which is essential to advancing the Tezos ecosystem.
In the process, Tezos (XTZ) will be exposed to new use cases in terms of Insurance, Equities and the world of decentralized finance.
According to co-founder of LINK, Sergey Nazarov, “Chainlink will help XTZ to avoid the pitfalls of creating decentralized pricing feed on their own”.
This will go a long way to ease the accessibility and usability of its platform.
Tezos (XTZ) has returned 108.71% Year-To-Date (YTD) and Chainlink (LINK) has also returned 157.02% Year-To-Date.
Working hand-in-hand and complementing each other’s innovation will go a long way to increase user cases which will be invaluable to the future prices of the two assets.
For interoperability purposes, DOT integrated with LINK, becoming the first non-Ethereum network to do so.
So far, the partnership brought great results to the Polkadot (DOT) protocol which has interoperability at its main aim.
DOT has returned 324.45% Year-to-Date. With increased use cases, DOTs activities reflect in the overall adoption of Chainlink. This sees LINK being used as a token to enable staking and in the process increase significantly in price and the overall market valuation of the cryptocurrency in terms of trade volume and capitalization.
Aside these, LINK have also formed partnerships with SWIFT (global member-owned cooperative and the world’s leading provider of secure financial messaging services) and ORACLE (an integrated cloud applications and platform service).
Partnerships with well-established organizations such as ORACLE which has over 275,000 customers in more than 145 countries and SWIFT which provide services to over 200 countries, with over 11,000 institutions connected to its system and more than 8.4 billion messages sent annually, Chainlink (LINK) is getting mileage in terms of popularity and leverage over other oracle decentralized solution companies.
Such partnerships with corporations with huge number of customers which increases use cases has seen Crypto Newsz forecasts LINK as a digital asset with a long-term potential which can reach $50 at best in 2024 and $75 by the end of 2025.
Don't Miss: Chainlink Price Predictions
So, Is Chainlink (LINK) a Good Investment?
Coinliker sees Chainlink as a good investment. The online cryptocurrency news and blockchain portal foresees more than 2,020% increase in LINKs price to $73.94 in 2024 and a further 5,930% to a trading price of $210.31 in the next five years (2026) which makes LINK a good investment for growth investors.
Real-world use cases are normally used in sustainability studies. Under blockchain and the world of decentralized finance, real-world use cases helps investors to understand how sustainable a crypto project is and whether they can trust a particular token with their hard earned fiat currency.
Chainlink (LINK) has real-world usage in its performance over the years, returning gains for investors, with the exception of 2018 when the whole crypto space had a bearish outlook signaling the sustainability of the crypto project.
One of the primed partnerships of the digital asset so far which certifies it as the best in the oracle decentralized solutions space is being integrated by Google.
Excerpts from a statement made by Google after the integration agreement go, “Ethereum application builders using Google software will be able to integrate data from sources outside the blockchain through a partnership with Chainlink”.
Forging such a partnership exposes LINK to Ethereum as well as Google users.
With the numbers in terms of customers associated with these technology giants, there will be a massive improvement in the number of adoptions through integrations.
This will help Chain use its innovation to help provide data from outside sources to help improve the business operations of several organizations.
In 2020, Chainlink Labs (the team behind the development and promotion of the Chain network) developed a new network which is called Off-Chain Reporting (OCR).
In an article by William Foxley of Coindesk in February 2021, it was reported that “Off-chain data aggregation is coming to the Chainlink network and promises up to 10 times the speed over the current tech stack”.
The immediate benefit of this Off-Chain Reporting (OCR) upgrade is to provide ten (10) times increase in the amount of real-world data which can be made available to smart contract applications.
This will help solve the on-chain congestion problems which were associated with the aggregation of data on-chain which went a long way to increase overhead on node operators which led to inefficiencies in data availability.
With Chainlink (LINK) thriving more on its solutions (Chain Network) and not the forces of demand and supply for its novel token (LINK) to increase in price, its ability to scale faster and provide the right information at the right time for organizations which have integrated it onto their platforms will surely be beneficial to the cryptocurrency organization’s valuation in the long term.
As at the time of writing, Chainlink (LINK) keeps adding more partners which are integrating its technological solutions for business efficiency.
Some of these partners are FilDA finance (a HECO based decentralized, cross-chain lending platform), Non-Fungible Token (NFT) project (Rare Pizzas), Luxury Watchmaker (Watch Signals), Decentralized Stablecoin Protocol (Finance OIN), Decentralized Finance Yield Aggregator (Rari Capital) and Premium Data Provider (Sport Monks).
Within the last ten (10) days from March 13, 2021 to March 22, 2021, through its social media platform (Twitter), Chainlink (LINK) has announced further integrations with Elastic Finance Aggregator (Polkalastic), Crypto Options Protocol (Lien Finance), Decentralized Finance Ecosystem (dForcenet), Blockchain-based Gaming Decentralized Application (Illuvium), Zero-collateral lending platform (TrueFi.io), Decentralized Cloud Protocol (StackOS.io), AI assistant platform (VAIOT limited) and Premium Data Provider (dxFeed).
Essential updates which improves speed of providing real-time data and integrations with several organizations puts Chainlink on the map as the best blockchain-decentralized oracles and trusted information source.
With this, analyst Torsten Hartmann of Captain Altcoin has opined that “LINK is optimally positioned to make a leap into the top three cryptocurrencies in terms of market capitalization by 2023. With a potential Bitcoin-induced bull run, reaching $200 is achievable”.
Comparison of LINK with Other Oracle Solutions Provider
Inasmuch as Chainlink thrives in the role as a first mover in the real-time data provision service, just like Bitcoin (BTC) and Ethereum (ETH) do as the kings of cryptocurrency and decentralized finance respectively, there are other protocols which aim to get a wider share of the oracle decentralized solutions market.
As an investor, getting to know the prices of such assets and their performance will be better able help you to make a decision as to whether to add or refrain from engaging with LINK as an investment instrument.
Crypto enthusiasts on Crypto Geek opine that LINK “Has been able to stay safe and sound despite the chaos in the traditional finance space. To date, there are no foreseeable events that could seriously harm the ascension of the LINK price”.
An analyst who goes by the pseudonym “Jonathan” foresees LINK cross at least $40 by the end of 2023 and an average price of $75 in 2025.
With an eye on oracle competitors or challengers, let us find their statistics.
BAND PROTOCOL (BAND) is a cross-chain data oracle platform that aggregates and connects Application Programming Interfaces (APIs) and real-world data to smart contracts.
With an eye on capturing a huge part of the market, BAND announced on social media platform (Twitter), with the handle @BandProtocol that it has completely integrated with Polygon (the leading platform for scaling on Ethereum).
At the time of writing this feature article, BAND was exchanging hands at $13.85 having shed 3.77% of its price in the last 24 hours. BAND experienced a 24-hour trading volume in the region of $208.3 million and a market capitalization of $1.38 billion as per data retrieved from Coindesk.
Band Protocol reached an all-time high of $20.53 on 13th February 2021, has returned 157.34%, with 20,494,033 BAND in circulation on a total supply of 100,000,000 BAND.
DECENTRALIZED ORACLE SERVICE (DOS) has an aim of boosting usability of blockchain with computational power and real world data in a manner which will “mainstream blockchains”.
DOS places a strong focus on the computational power of its network.
DOS was trading for a price of $0.127 having shed 3.32% of its price, has a market capitalization of $17.27 million and experienced trade volumes of $1,015,348 in the last 24 hours as at the time of writing this article.
Only 14% of its circulating supply which is represented by 135,939,017 DOS of its total maximum supply of 950,000,000 DOS has been mined.
It reached an all-time high of $0.3918 on 13th August 2020 and has returned 151.71% from the time of launch to its current trading price.
The TELLOR PROTOCOL (TRB) is a permissioness community of token holders, validators and data providers who function together to provide a secure real-world data on-chain.
Tellor (TRB) at the time of writing was trading at a price of $58.41 having shed 6.15% of its price, has a $120,305,142 trade volume with a market capitalization of $70,618,495.
Tellor (TRB) reached an all-time high of $89.66 on 29th August 2020 and has returned 14.33% in the last 7 days. There are currently 1,208,249 TRB in circulation on a maximum supply of 1,707,842 TRB.
Decentralized Information Asset (DIA) is an open-source platform for transparent, community-verified price oracles for Decentralized Finance (DeFi) applications.
DIA has a trading price of $0.00000364, trading volume of $485 and a market capitalization of $42,997. DIA reached its all-time high on 3rd June 2019 at a price of $0.00008322, has a circulating supply of 11,820,642,222 on a total supply of 15,000,000,000.
NEST PROTOCOL (NEST) is the most secure oracle to build your next breakthrough Decentralized Finance (DeFi) creation risk computable.
NEST has a price of $0.0402; market capitalization is $79,646,746 and a trade volume of $10,307,885, circulating supply of 1,980,556,134 NEST on a maximum supply of 10,000,000,000.
With a current trading price of $28.60, on a trade volume of $1,276,233,389 and a market capitalization of $11,405,864,365, LINK is categorized as a large cap asset since its capitalization surpasses $10 billion and is performing relatively well since volumes above $1 billion shows an irresistible quest on the part of traders and investors for the asset.
This competitive edge is why Igor Balanchuk of LOGIN CASINO (an online gambling business magazine with a keen eye on the world of decentralized finance and Web 3.0) forecasts a positive price pattern for LINK.
Igor Balanchuk sees the price of the crypto asset doubling from its current trading price to around $50 to close out 2021.
With more integrations and partnerships in the next four years (2025), LINK is going to hit the price mark of $200 per coin.
Price Predictions of Chainlink (LINK) in 2021 and Beyond
Analyst Skerdian Meta predicts a price forecast of the first half of 2021 for LINK to trade in the range of $50 and $60 based on stimulus programmes, crypto market sentiment, safe haven status and recovery from the pandemic.
The analyst who writes for FX Leaders then sees economic recovery, post coronavirus economy and a taste for LINK as a safe haven asset to take the price to a range of $100 to $200 by the end of 2021.
The analyst who writes for the online portal which provides best forex signals, trading news, market analysis and forex strategies foresees LINK as a safe haven crypto asset, full economic recovery from the pandemic and tighter monetary policies will see the price soar to a range of $200 to $300.
CoinPedia has predicted positive price patterns for Chainlink for the year 2021 and beyond through its analysts.
Based on acceptance, appreciation and real-world use cases of the digital asset as per the trust traders and investors have in it, LINK will end 2021 exchanging hands for $50.
CoinPedia sees a slight increase in the price of Chainlink monthly which will eventually see it trade at $60 in the beginning of 2022 and end that year with a price of $100.
In the next five years (2026), CoinPedia believes LINK will have become a mainstay in the discussion of great crypto assets which will see it trade around $500.
Previsioni Bitcoin has forecasted positive price patterns for LINK with a trading price at the end of the 2nd quarter with a trading price of $106.01, 3rd quarter with a trading price of $121.79 and as at the year’s end on December 31, trade hands at $141.17.
Digital Coin Price believes there will be a substantial increase from 2021 up to 2028.
Image: Digital Coin Price
The online portal which provides accurate crypto market analysis and data, forecasts Chainlink to end 2021 with $40.92, $46.55 in 2022, $58.95 in 2023, $67.47 in 2024, $81.01 in 2025, $95.73 in 2026, $106.49 in 2027 and $119.9 in 2028.
Gov Capital sees LINK trading at $48.367955 in the next one year and $162.742 in the next five years (2026).
Wallet Investor sees Chainlink rising up from its current trading price of $28.60 to $54.406 in 1 year and trades in the future at a price of $156.369.
CryptoNewsz says “Chainlink has the inherent capability to expand smart contracts, allowing data accessibility for events, transactions and growing in the same trend. The LINK price by years-end shall easily touch $40 by all means”.
The online news portal further sees a jump above $50 in 2022, hitting the $60 price milestone in 2023, maintaining that price through 2024 and hitting the $75 price mark in 2025.
Captain Altcoin believes that “Predicting prices of the novel token of Chain due to the high volatility and risky asset class of cryptocurrency is a thankless task – best answer is one knows”.
With this, the online news portal which provides news and information on cryptos, primarily altcoins, sees maintaining its relevance in the industry and managing to stay ahead in the oracle solutions space which may see it trade for a coin at 10 to 100 times of its all-time high by the end of 2025.
Considering LINKs all-time high is $36.83, a 10x increment which is the minimum will see LINK trade at, at least $368.3 as at the year’s end in 2025.
Analyst Arthur Webb of Ripple Coin News has opined that LINK will be trading at a price of $100 by 2025.
Coin Switch has been extremely modest with its price prediction for Chainlink in the short-term but sees a potential for growth in the long term.
Coin Switch forecasts LINK to trade at $67 or more by the end of 2025.
What Will Chainlink Be Worth in 2030?
According to analyst, Torsten Hartmann of Captain Altcoin, if Chainlink continues to upgrade its solutions and stays ahead of the completion, it will be worth at $2800 in 2030.
Crypto Rating sees “LINK reach the peak of its maturation, and the price of the Chainlink asset will stabilize around $1,200 to $1,300 by 2030”.
Analyst who goes by the name AK Crypto of CryptoCurrency Price Prediction forecasts a price of $441.31 at the beginning of 2030 and closes the year on December 31 at a trading price of $878.22.
Will Chainlink (LINK) Reach $100?
Chainlink could reach at least $100 by the end of 2025 according to analyst Arthur Webb of Ripple Coin News. Gov. Capital foresees the crypto surpassing the $100 price milestone and reaching $162.742 by the end of 2026. Analyst Skerdian Meta of FX Leaders and Previsioni Bitcoin has opined that LINK will cross the $100 price milestones in 2021.
The FX Leaders analyst sees a closing price of at least $100 up to $200 for LINK to close out 2021 while Previsioni Bitcoin sees LINK crossing the $100 milestone in the short-term, as early as June with a trading price of $106.01.
Will Chainlink (LINK) hit $1,000?
Chainlink can hit $1,000 in the long term. In the short-term, it is practically impossible as fundamental and technical analysis by experts does not support here-and-now gains.
Online portal which lists the top cryptocurrencies, best initial coin offerings (ICOs) and cryptocurrency exchanges, Crypto Rating has forecasted Chainlink (LINK) to hit $1,000 in 2030 and increase to at least $1,200 to end the year.
With several partnerships and integrations being made daily, your ability to buy and hold the crypto asset for long term gains is what could help you earn great returns.
One vital thing to remember is holders of Ethereum (ETH) and Bitcoin (BTC) who saw massive returns on their investments, held it for the long term.
There are several investors who are cursing their stars because they purchased BTC in September 2020, when it was trading between $10,000 and $12,000, only to sell it off and make what sounded like an enormous gains, only to see BTC skyrocket and reach new all-time highs in December 2020, January, February and March, 2021.
Check Out: Crypto Predictions for 2021: Where to Invest
Does Chainlink (LINK) Have a Future?
Yes, Chainlink has a future. According to analyst Shawn Du’Mmett of Cryptopolitan, LINK will rally above $60 in the next five (5) years (2026). Even though founders of the crypto technology decided to develop their crypto project on Ethereum, it has not stopped Chainlink from being employed by other users on other blockchains.
Additionally, Chainlink has also formed integral partnerships with decentralized applications (DAPPS) which does not run on Ethereum’s Network pointing to the extensive adoption of the organizations business solutions to help provide real-time data to improve the efficiency and effectiveness of several organizations.
In an interview with Christine Kim (Coindesk reporter), co-founder, Sergey Nazarov pointed out in reference to pump and dump schemes which was earlier on associated with the price of the novel token under the ticker symbol, LINK, “We do not control price movements of the digital currency and do not interact with cryptocurrency exchanges. Our primary aim is to build great technologies which will provide great solutions to new and existing partners”.
In the last two years after the interview, the price of LINK has been relatively stable when compared to the volatility in other cryptocurrencies such as Bitcoin (BTC) which can leave investors with huge gains in the morning and losses they may not be able to recover from in the evening.
How Much Can Chainlink (LINK) Be Worth?
Chainlink can be worth $100, $200, $500, $1,000 or more according to experts across Digital Price Forecast, Economy Forecast Agency, FX Leaders, Wallet Investor, Ripple Coin News, Previsioni Bitcoin and Captain Altcoin.
LINKs price relies on positive market sentiment for cryptocurrencies, price of Bitcoin, renewed and increased interest in decentralized finance (DeFi) since most Decentralized Applications (DAPPS) rely on real-time data from Chainlink.
For the time being, the next price milestone experts are expecting LINK to surpass is the $50 price milestone since it crossed $25 several months back and an all-time high of $36.83.
As an investor, you can reap rewards of the potential boost in price of LINK if you control your emotions to become a growth investor. Holding an asset for a long time is the only way you can know the real value of the asset.
So, is Chainlink a Good Investment?
Chainlink like all the other altcoins can be profitable depending on the number of tokens you are holding on to at a price milestone which meets your investment goals.
LINK could be a profitable investment and it is an asset any trader can consider having on their portfolio as it promises unique features which will lead to several adoptions and integrations in the future.
Put simply, Chainlink is low-risk investment with lots of potential rewards. It’s something you should definitely do some research before you consider adding it to your portfolio.
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