Chainlink price prediction has become the hottest topic in the crypto world!
Most of the experts, analysts and cryptocurrency users are talking about this coin. The cryptocurrency market is huge and extremely volatile.
Apart from Bitcoin and Ethereum, there are many other digital coins that have the potential for growth. Chainlink is one such coin, and the recent price surge clearly proves it.
What is Chainlink?
Chainlink is a well-known cryptocurrency like Bitcoin, Ethereum and Dogecoin. It is a decentralized oracle network as well. This network offers a tradable digital coin/ token called LINK.
This cryptocurrency platform is different from most blockchain projects. It mostly focuses on smart contracts. As the name goes, it links outside applications with blockchains.
Sergey Nazarov and Steve Ellis developed this coin in 2014, but it was officially launched in 2017 via ICO. LINK coin raised $32 million in the offering. In terms of market capitalization, this coin ranks number 12 amongst all the other cryptocurrencies.
Chainlink Historic Price:
Chainlink has been in the market for four years now, but it started gaining momentum by the end of 2020. The historic price data of the coin plays a very important in predicting the future value.
Most of the experts use historic data for trend analysis in order to predict the price. So, here are all the historic price details of Chainlink.
- Chainlink Value in 2017:
This coin was officially launched in 2017. The funds were raised with the help of an ICO (Initial Coin Offering). In the month of September, $32 million was raised by launching the coin. The value of the coin was $0.9 during the private token sale. However, during the public sale, the value increased to $0.11.
- Chainlink Value in 2018:
Most of the crypto coins fail after one year, but the case was different for Chainlink. In this year, the price of LINK went from $0.15 to $0.43. The price also increased to $1 during this year.
- Chainlink Value in 2019:
The value of Chainlink increased and decreased rapidly during this year. The price went from $1.19 to $1.93 in 2019. There was news on Twitter about Chainlink’s association with Google Cloud, which boosted the price. In the same year, LINK got listen on Coinbase. The value increased from $2.24 to $4.45 after getting listed. However, the price again decreased to $1.61 when the hype of over.
- Chainlink Value in 2020:
There were lots of ups and downs in Chainlink price value in 2020. In the month of January, the price increased from $1.74 to $4.60. However, in the month of July, when China’s BSN network was activated, the price surged to $5.60. It further increased to $11.17 and reached an all-time high with a value of $16.08 by the end of the year.
Chainlink Price Prediction in 2021:
2020 was a good year for Chainlink. The coin closed at $11.14 by the end of the year. In the month of January, the price was stable at $11.45.
However, there was a sudden spike in the price in the month of May. On 2nd May, Chainlink price reached 51.17. It went on increasing and reached an all-time high in the second week of May at $52.70.
The value of the coin increased by 64% in a span of 3 to 4 months. It was a new record for LINK. The bullish momentum of the coin gained the attention of many crypto users.
People who have been investing in Bitcoin and Ethereum also started using this coin. As per analysts and experts, Chainlink will continue with the bullish momentum.
The value of the coin is predicted to reach $80 to $100 by the end of 2021. As more and more people have started using this coin for their projects, there might be a continuous surge in the price.
However, if certain unforeseen circumstances occur in 2021, it might marginally affect Chainlink price. News, speculation as well as competitor coins might also affect the price.
Even if any such situation occurs, the price might still reach $80 to $90 by the end of the year as per prediction by experts.
Chainlink Price Prediction for Next Year:
While 2021 looks like a good year for Chainlink, you also need to know what will happen to the coin in 2022. As per experts, the price will likely reach $100 at the beginning of 2022. If people keep investing in the coin, the price will increase each month gradually. If things work out well for Chainlink, it can reach $250 to $300 by the end of 2022.
Chainlink Price Prediction for Next 5 Years:
Chainlink has proven to be a strong competitor in the crypto market. If the price of the coin keeps on increasing in 2021 and 2022, there might be a great development in the next five years. With increasing partnerships and demand, the coin will likely reach $500 to $1,000 by 2025 and 2026.
Why does Chainlink Price Will Continue to Rise?
Many experts believe that Chainlink price will continue to rise in 2021. Here are some of the reasons for the price rise.
- Chainlink 2.0 Whitepaper:
In the month of April, Chainlink 2.0 whitepaper was released. There are details about hybrid smart contracts and many other powerful features. The whitepaper release is one of the major factors responsible for boosting the price of the coin.
- DEX Volume:
The DEX trading volume clearly shows that Chainlink is experiencing a bullish momentum. In the month of February, the trading volume reached 1.5 million. In the month of May, the volume is still around 1 million.
Chainlink is partnering with various projects. Earlier, the partnership was mostly in the DeFi ecosystem. However, now Chainlink is partnering with other projects as well.
- Smart Contracts:
Chainlink coin mostly focuses on smart contracts. These contracts are used in DeFi apps as well. It helps users to create smart contracts. There are very few crypto coins that provide this function.
- Multiple Uses:
There are many uses of Chainlink. You can use it in the gaming market, utilities as well as supply chain. You can use it to offer crypto loans as well.
How Chainlink Price Rise Will Impact the Users?
Chainlink price increased to $52.70 in the second week of May. However, the cryptocurrency market saw a recent price decline which affected many coins, including Chainlink and Bitcoin.
The current value of the coin is $23.35. However, as per the predictions, the price will rise in the future. The Crypto market is extremely volatile, so it is common for price to increase and decrease.
Due to the recent price rise, most crypto users are buying Chainlink coin. The daily transaction value is above 1 million. It clearly shows that more and more people are trading LINK coin.
Many institutional investors, as well as retail investors, are investing in this coin because of its great potential. Apart from that, many companies are partnering with this coin for their projects. As the price is low, most people are taking advantage of the buying opportunity.
Chainlink is a one of a kind cryptocurrency with great potential for growth even though the price is down to $23.35. As per the expert prediction, it will increase to $80 – $100 by the end of the year.