Although there has been so much attention on cryptocurrencies recently, there is still a lot of appetite for altcoins like Chainlink. The altcoin has been one of the very few that’s presently making front-page news since the rise of DeFi projects. Right from the opening of 2021, Chainlink has progressively climbed up the ladder to become one of the top-ranked cryptocurrencies based on market capitalization.
At the beginning of the year, Chainlink was worth $11.46 before it rose to reach an all-time high of $52.88 in early May. However, as of the time of writing this post, in the mid of October, the price of Chainlink is $27.41, which was contrary to what many people had expected earlier this year.
So what does the future holds for Chainlink, especially before the close of this year? Is there any chance that it will hit $100 before the end of the year? All these questions are what drove us to do this post about Chainlink price prediction. So read on to see how the altcoin is likely going to perform in the next few months.
What is Chainlink?
Chainlink was created in 2014 by Russian entrepreneur Sergey Nazarov but launched in 2017. It is a decentralized cryptocurrency that runs on blockchain technology. The crypto is designed to provide real-world information to smart contracts, and it has excellently been doing that right from its creation.
Chainlink helps serve as a bridge between blockchain and the applications that exist in the real world. With its unique decentralized network of Oracles, it makes it super easy for smart contracts to safely interact with off-chain platforms.
Chainlink node operators extract data from off-chain systems and convert it into blockchain compatible formats. As a reward for their hard work, the operators are rewarded with LINK cryptocurrency, which is the Chainlink token. LINK is an ERC-20 token that runs on the Ethereum network.
What Does LINK Price History Looks Like?
LINK price in 2017
In 2017, LINK was funded with an ICO and managed to raise about $32 million towards the end of the year. At this time, the token costs between $0.09 and $0.11 per token.
LINK price in 2018
In 2018, the coin started gaining momentum in the crypto community, and it doubled in price from $0.15 to $0.43. The coin continued to increase against all odds before finally settling at $1 in 2018.
LINK prince in 2019
2019 was a good year for Chainlink and its token. Shortly after a news broke on Twitter that Chainlink will likely be partnering with Google Cloud, the price of LINK jumped from $1.19 to $1.93. That same year, Coinbase announced it would be listing LINK on its platform, and that further shoot up the price of LINK to about $4.45 per token. However, the token later suffered some hits, and that brought down the price to $1.61 before the end of 2019.
LINK price in 2020
January 2020 brought lots of amazing improvements to Chainlink. During the time, the coin grew from $1.74 to $4.60 between January and February. But in March 2020, the price slumped again to a price point of $1.75. However, in April, it rose again to $3.
Many events happened to Chainlink in the year, and many of them affected the price of LINK. In July 2020, the LINK price amazingly went up, reaching an all-time high of $5.60 – thanks to the partnership between China’s national blockchain network and Blockchain Service Network (BSN). And by the end of 2020, the token settled at $11.14.
Chainlink Price Prediction for 2021
At the opening of 2021, Chainlink was traded at $11.45, and the price surprisingly went up to $51.17 to hit a new high in May 2021. But LINK price slumped again in May from $36.8 to $21. But after that time, the price of LINK has been enjoying a progressive increase.
Right from the market crash in September, Chainlink has been able to find its foot in the crypto world as it continually attracts the attention of new users to its project. Chainlink has been proactive in getting its product out to the people, and that has greatly contributed to its growth over time. Partnering with Google Cloud amongst other great companies has been instrumental in its price surge, bringing the probability of seeing it hit $37.008 before the end of the year.
However, in the crypto space, anything can happen. Unforeseen circumstances can come and sweep Chainlink off its feet and could result in the price of the coin coming down to almost $15.988. But if the network continues to enjoy the present trend, it might easily achieve $42.44 by the end of 2021, and in January 2022, the price might be sitting at $75.24. Nevertheless, if it falls into a bearish trap, the price may dump to $27.08.
Chainlink Price Prediction For 2022
If Chainlink manages to close this year, hitting new highs, then 2022 might begin with bullish at $75.24. However, if the token got into a bearish trap, it might bring down the price and make it resume at a similar trend at $27.08.
Also, if Chainlink can increase the reward levels for its nodes, it will encourage new node operators getting in to stake their tokens, hence shooting up the price of LINK. In that case, the LINK price might surge to hit a new high of $111.32.
On the other hand, there have been some concerns raised by critics concerning possible data manipulation of the network. If that is not improved upon, it can lead to the price slumping back to $78.869.
LINK Price Market Prediction; What Experts Say About It
#1: DigitalCoin
DigitalCoin sees Chainlink as an amazing project with lots of potentials. Therefore, they expect the price to soar high in the few years to come. They expect that Chainlink might be trading at $32.48 before the end of 2021.
#2: TradingBeasts
TradingBeast expects that LINK’s price would be around $24.081 by the end of the year, and at the closing of 2024, LINK might be trading at $33.223.
#3: Longforecasts
According to Longforecasts, LINK might be trading between $25.39 and $31.51 at the closing of the year. They also go further to predict that by mid of 2025, the token might have increased in price, crossing $51.00.
#4: Wallet Investor
Among the various sources of prediction we have seen about Chainlink, Wallet Investor seems to be highly bullish about the future of Chainlink. They expect the price to shoot up to $56.834 before the opening of the coming year and about $226.161 by the end of 2026.
Is Chainlink (LINK) A Good Investment?
With the present report about Chainlink, investing in it might be a good decision for any smart investor. So if you plan to add Chainlink to your portfolio for a long time, go for it.
Where Can I Buy Chainlink
Chainlink is now listed on virtually all exchanges. That means you can buy the LINK token almost anywhere. But for the sake of trust and ease, you can check here to buy Chainlink. However, when choosing a platform to buy your LINK token, pay close attention to the security of the platform. Check their reliability and avoid platforms that charge excessive commissions.
