Last year, Chainlink burst into the list of top-10 cryptocurrencies by market capitalization. Since the beginning of the year, the LINK cryptocurrency price increased by 830% and overtook Bitcoin and other liquid coins by profitability. At the beginning of 2021, Chainlink once again hit the all-time highest mark.
Some experts say that the reason for this burst and success is the demand for such a service. Chainlink became a monopolist on the decentralized oracles market, so their oracles are the industry standard.
Changelly treats Chanilink cryptocurrency with respect since it’s a promising project. By the way, the coin is traded against multiple cryptocurrencies, and it is also ready to be swapped to over 160 digital assets on the Changelly platform.
What Is Chainlink?
ChainLink (LINK) is an open-source, decentralized cryptocurrency. Chainlink technology is based on software that helps to connect smart contracts to external resources in different networks. This is provided by safe, decentralized oracles.
The ICO was conducted on September 19th, 2017, and the $32 million fundraising goal was achieved. Back then, the Chainlink ICO price was $0.11 (ETH was accepted as the only means of payment).
To enable the mutual integration of cryptocurrency technologies and traditional software of any organization, it is necessary to provide a link between the cryptocurrency infrastructure element and dozens of third-party points. This connection is provided by the oracles, software that forms a kind of channel between the parties to the contract. This channel exchanges data according to the rules that are specified in the contract.
Chainlink has developed a technology that forms such channels between different data providers through blockchain technology. The team created oracles that ensure the implementation of a smart contract between the crypto infrastructure and third-party sources of information. Such networks are not regulated by anyone or anything other than a smart contract and are essentially decentralized.
The network formed by Chainlink consists of levels:
- Off-chain. It is a subnet of oracle nodes that collect information from third-party sources – databases, APIs, etc. The oracles work independently from each other in accordance with the given metrics.
- On-chain. Responsible for selecting oracles that match the smart contract.
Chainlink allows all network operators to earn with their own token, named LINK. Participants receive a certain amount of coins as a reward for using smart contracts with ChainLink oracles. One way to become the owner of LINK is to incorporate this network into your business.
Investors can buy LINK cryptocurrency on cryptocurrency exchanges. LINK currency pairs are actively traded on Binance, Bitrue, and Huobi, and ChainLink is also traded on OKEx, FCoin, and many other exchanges. The LINK coin is available for instant purchase at Changelly.
Chainlink Price Prediction 2021
According to the analysts, there are a lot of scenarios of Chainlink development and its role in the crypto space. However, some algorithms can name us some solid figures.
According to the Digital Coin Price source, Chainlink will reach the $40 mark by the end of the year. Based on this prediction, LINK cryptocurrency is a profitable investment tool now.
Long Forecast service claims that Chainlink will gain momentum and reach $62 value by the end of 2021. The rate will go in a positive direction throughout the whole year, gradually changing from $30 to $60.
Wallet Investor predicts Chainlink to have about 100% earning potential in one year. So, by the end of this year, the best scenario for Chainlink’s rate is $50.
LINK Price Prediction 2022
By the middle of 2022, Chainlink will probably be around $50. However, according to the bullish Long Forecast prediction, in April 2022, LINK coin can reach $80, changing 270% from today’s price.
Wallet Investor predicts the continued growth in the value of the coin. So, by the end of 2022, LINK may reach $70 or even more.
Chainlink 5 Years Price Prediction
It’s hard to predict the price of any cryptocurrency for such a long time period. However, according to Wallet Investor algorithms, if the positive trend continues, then by 2025 the value of the coin could reach $100-$135.
Considering how easily Chainlink overcomes the bearish market, it’s not likely that the coin will lose in price.
When it comes to the reasons for the asset to grow or fall, there are several points. As long as Chainlink will be the only decentralized oracle service, LINK cryptocurrency will be in the top-10. Obviously, the Chainlink price growth is connected to the hype of the DeFi sector and FOMO. However, the demand for decentralized oracles is growing.
Frequently Asked Questions (FAQ)
Here we’ve covered the most frequently asked questions concerning Chainlink cryptocurrency and its future.
Why is Chainlink going up?
Chainlink is a monopolist in the field of oracles for the blockchain. It is the most advanced mechanism for the transfer of data from the outside world to the blockchain, closed by its nature. As long as Chainlink has no worthy competitors, the asset price will grow along with the entire market.
Is Chainlink a good investment?
Chainlink is still a new cryptocurrency, so its price is volatile and depends on the price of Bitcoin.
Where to buy LINK and how to invest in Chainlink?
It is easy to buy LINK coins on many platforms. If you want to buy LINK cryptocurrency anonymously using your credit card (USD, EUR, GBP), you can use the Changelly platform.
Will Chainlink reach $100?
It probably might happen if the positive trend will remain.
What will Chainlink be worth in 10 years?
Nobody knows what will happen with either Chainlink or any other cryptocurrency in ten years. Cryptocurrencies are developing, and Chainlink takes a fairly solid position in the top ten cryptocurrencies in terms of market capitalization. If the blockchain needs oracles in 10 years, then the price of the LINK currency will keep getting higher.