Will LINK Price Blast Beyond $100 in 2022?
After leading the front in altcoin adoption for several years and offering users financial rewards for feeding reliable data to the Chainlink ecosystem, LINK is back with a bang in the cryptocurrency market.
With partnerships with SWIFT and Google Cloud helping to bring more investors into the network, we might be witnessing the rejuvenation of LINK in 2022. An incredible 18700% increase since the coin launched could be minimal to what might happen to the Chainlink price soon.
So, will 2022 see another experience like the bull run of 2019? Read on.
Latest News About Chainlink (LINK) Price
Ranked number 22 with a market cap of $9.1 billion, Chainlink has been in the news lately for all the right reasons. From project announcements to working on more use cases, it seems 2022 will be one of the best years for LINK if they keep the bullish momentum.
Chainlink (LINK) Historical Price Review and Technical Analysis
Source: CoinMarketCap
Trading at just a little over $0.17 in 2017, LINK’s price has increased over 18,000% to about $19.76 over the last four years. However, there seemed to be stagnancy in the coin price recently as it only moved 66.84% (CoinmarketCap).
However, Chainlink has recently shown immense strength in recovering as the price of LINK surged over 35% over the last few days. Exciting news since it followed a bullish trend to an ATH of $51.17 in May. This will be great news for LINK investors as most altcoins and stable coins keep showing bearish signals.
Source: CoinMarketCap
The performance of LINK over the last 90 days saw the price move as high as $38- a price range it had found difficult to hit for a long time. While the cryptocurrency market is showing a lot of bearish signals, there are projections that Chainlink might not follow the crowd in the coming months. Let’s find out the opinion of technical analysts on Chainlink price prediction.
Chainlink Technical Analysis
Chainlink Price Prediction 2022
In early 2022, technical analysts expect the Chainlink price prediction to hit $62.24 if there is a strong bullish trend. However, if the market shows a bearish signal, Chainlink price forecast might be around $27.08.
On the flip side, the end of 2022 might see Chainlink hit another all-time high, and price prediction is projected to be around an average price of $67.32 from the current Chainlink price.
Chainlink Price Prediction 2023
Some crypto analysts believe that the current price of Chainlink is way undervalued than what the price will be worth in 2023. Chainlink has the potential to hit a price above $100 in 2023.
Chainlink Price Prediction 2024
Assuming the bullish momentum continues to hit the crypto market in 2023, it is expected that Chainlink brings its support levels to at least $80-$90. However, the LINK price could peg at $130 or above by the end of 2024.
Chainlink Price Prediction 2025
While there could be fluctuations in the cryptocurrency market between 2024 and 2025, technical analysts believe the progress of Bitcoin and Ethereum is tied to the price increase or decrease of LINK. Analysts expect a good run in 2025 and nothing less than $150 in LINK price.
Expert Analysis of Chainlink (LINK) Price 2030
With many partnerships expected to happen in a couple of years, Chainlink price forecasts are likely affected by some of the news. By 2030, crypto experts expect Chainlink to expand its smart contracts capability. In the long-term price forecast, crypto experts are optimistic about the Chainlink price forecast hitting a minimum value of $91.20
Chainlink | The Fundamentals
Recognised as one of the most popular cryptocurrencies, Chainlink was launched in 2017. The project was founded by Sergey Nazarov and Steve Ellis in 2014, with SmartContract as its parent company. Since its launch, the Chainlink team has exponentially expanded into building the blocks of Decentralised Finance (Defi). Chainlink aims to securely connect smart contracts and provide tamper-proof chain services on the blockchain with real-world data.
Today, Chainlink is the leading oracle solution with a global network for securing DeFi projects worth billions of dollars. One of the major problems faced by Ethereum and some other smart contracts was the issue of agreement on automatic transaction execution. This challenge created a setback in the blockchain space. However, with the invention of the LINK ecosystem and its network of decentralized nodes, this problem has ceased to exist. That said, let’s look at what the Chainlink (Link) token is.
The Chainlink Token (LINK)
LINK is the native token of the Chainlink network. Unlike Bitcoin, which has a fixed supply of 21 million tokens, the Chainlink cryptocurrency has an incredible 1 billion tokens in fixed supply.
As of the time of this writing, there are about 467,009,554 LINK tokens in circulation, while the current price of LINK price equals $19.88. Like every other currency, the Chainlink token has value and functions in a monetary system. You can buy LINK, send and receive LINK tokens on cryptocurrency exchanges or earn interest on saving LINK in DeFi protocols.
Why Do Investors Trust LINK?
Only a few cryptocurrencies provide 100% transparency in usage and transaction. Investors trust the Chainlink cryptocurrency because it is the most transparent decentralized asset in the blockchain space. This is one of the reasons A lot of investors adopt Chainlink.
FAQs
Now that we have an idea of Chainlink and its network, let’s provide some answers to frequently asked questions about cryptocurrency.
How Does Chainlink Work?
Chainlink was built on the Ethereum network, and as such, works with smart contracts. So, how does it work?
The Chainlink network works with three smart contracts- aggregation, reputation, and order-matching. Some of these are problems faced by the peer-to-peer network on the blockchain.
Chainlink depends on decentralized nodes, called oracles, to facilitate smart chain integration. The network of oracles helps to process data and store it on the blockchain. Chainlink then uses the information stored to provide data for smart contract users via its protocol. However, there is a new upgrade to Chainlink, which is Chainlink 2.0 which allows Decentralised Oracle Networks (DONs) to work with external data sources outside the Chainlink protocol.
Will Chainlink Ensure Data Protection?
One of the reasons Chainlink was built was to make investors seamlessly secure their data and transact with complete data protection and privacy. Of course, there are some little limitations, but Chainlink guarantees one thing- users are free from data manipulation.
Is There a Fixed Supply of Chainlink?
Yes! There is a fixed supply of Chainlink tokens. Chainlink has a fixed supply of 1 billion tokens. However, the fixed supply of Chainlink does not mean the price will remain the same. Like every other cryptocurrency, the higher the demand, the higher LINK’s price. The LINK token is used to buy data on the Chainlink network. It can also be used to trade other cryptocurrencies on exchanges.
Will The Price of Chainlink (LINK) Increase in Five (5) Years?
With a market capitalization of $9,365,295,219.17, growing at about 8.86% (CoinMarketCap), LINK’s price will increase within the next five years.
Why Is the Price of Chainlink (LINK) Increasing?
There are several reasons the price of cryptocurrencies increased. In Chainlink’s case, its recent surge in price can be attributed to more investors in the ecosystem. With Bitcoin and Ethereum declining in value lately, investors keep looking for other options. Chainlink falls into this category with its solid offer of earning interest and saving on the Chainlink network.
Is Chainlink a Profitable Investment?
With the recent Chainlink price and its performance over the last three months, Chainlink can be a good investment. Crypto experts are solid on a bullish LINK price prediction. While the future price of LINK depends on a lot of factors, bullish momentum is projected to happen in the coming years.
However, it would help if you remembered the highly volatile cryptocurrency market. Price forecasts do not necessarily mean specific future predictions.
Where to Buy Chainlink (LINK)
Chainlink (LINK) is available on popular cryptocurrency exchanges. You can buy LINK on FTX, Binance, Huobi, or Coinbase. However, if you are a beginner to crypto trading, we highly recommend using eToro. eToro is excellent for complete cryptocurrency newbies, and you can easily buy or sell Chainlink on the platform. Even if you are an experienced trader, you would love the eToro trading platform too.
You don’t want to miss out on this.
Disclaimer
This article is only for information purposes with data collected across the internet. We do not portray the content here as investment advice. Please do your research or consult with a reputable investment expert before buying Chainlink or other digital currencies. The cryptocurrency market is a highly volatile one. Carry out due diligence before making your financial decisions.