The Chainlink token LINK is an ERC677 token, an extension of the ERC20. Currently, the token is ranked as №23 with a market cap of $6,583,653,737. The total supply of LINK coins is 1,000,000,000 tokens, with a circulating supply of 467,009,550. The current price of the token stands at $14.10, a decrease of 3.40% or $0.4994 in the previous 24 hours. It is traded with a market dominance of 0.37%. For the last 24 hours, the trading volume has increased about 13.5% and stands at $702,936,221.02.
What is the Chainlink (LINK) coin?
Chainlink, a blockchain founded in 2017, was built as a bridge between payment services like PayPal, banks, blockchains, and Visa, just like Ethereum and Bitcoin. Chainlink allows data transfer from off-chain sources to on-chain applications through its decentralized Oracle network and enables blockchains to access off-chain information securely.
The users of this crypto include a large open-source community of smart contract developers, data providers, researchers, node operators, security auditors, and more. In addition, the company ensures the decentralized participation of all node operators and users that are contributing to the network. It was the first network of its kind that allowed the integration of off-chain data into smart contracts.
The native token of this platform, LINK, is used to compensate the node operators for retrieving data from external sources. The demand for and value of these tokens is highly dependent on the number of operators running the network. The token is also used to incentivize uptime guarantees that have been done through collateral systems or payment penalties.
Chainlink (LINK) coin price history & monthly technical outlook
In the last 24 hours, the coin’s value has decreased by 3.15 percent. However, when we compare LINK’s current market capitalization to the previous day’s market capitalization, we can see that it is also reducing by 4.46%, and its fully diluted market cap stands at $14,097,471,333.37.
Over the last seven days, this crypto has increased by 0.93 percent. Chainlink has been continuously declining since its all-time high level at $52, which it touched in May 2021. The LINK token prices are significantly below their all-time high level, so buying this coin might be an excellent opportunity.
Chainlink (LINK) coin fundamental outlook
Chainlink has collaborated on more than 1100 projects in one way or another. In the DeFi space, Chainlink has also secured the center stage as the maker leader, as most companies taking part in collaboration come from the DeFi industry. The collaborations with the platform currently include:
- 550 DeFi projects
- 274 VRF collaborations
- 225 NFT projects
- 90 blockchain projects
In 2021 alone, more than 725 projects integrated a few technologies from Chainlink into their platforms. The number was 241 in 2020.
Chainlink has found wide adoption in the NFT and gaming sectors as well. Chainlink allows users to distribute rare NFTs and assign randomized attributes to NFTs. It also provides auditable evidence that the NFTs were created and awarded using tamper-proof randomness. The same concept is also applied to gaming platforms.
In February 2022, Chainlink started working with Saudi Telecom Company, Bahrain Telco. It is the first telecommunication firm in the Middle East and North Africa to start working with the crypto infrastructure. The Chainlink node will help the company provide smart contracts access real-world secure off-chain computations.
In January 2022, Chainlink Labs hired the co-creator of Meta’s Diem, Christian Catalini, and Stanford cryptographer Dan Boneh as technical advisers. Both will work on the cross-chain interoperability protocol (CCIP), which will enable users to move tokens and execute smart contracts across different blockchains through the Chainlink network.
The team behind the Chainlink network has also said that the platform will launch staking in 2022. The feature has been called “LINK marines” and is highly awaited by the community. It will allow LINK holders to secure the network by locking up some of their tokens into the protocol, which will pay rewards. The platform is also set to launch CCIP, for which it has already hired new professionals, as mentioned above. CCIP will help this crypto connect all the blockchains into one. In short, it will make Chainlink the internet of blockchains.
Will the LINK coin price reach 100 USD?
The Chainlink (LINK) price could hit $100 shortly as per the bullish sentiment. However, it might be challenging to achieve the target this year because the current bullish trend is not strong enough. However, the coin still has very positive potential for this year, making it a good investment opportunity.
Chainlink (LINK) price prediction 2022-2025
The following is the price prediction for the LINK token for the next five years to come. The predictions have been made using deep technical indicators and analysis of prior price data. The analysts gathered as much historical data about the LINK currency as possible, such as previous prices, market cap, volume, and a few other things, while giving the following predictions.
Chainlink price prediction 2022
Our analysts believe that the bearish trend circulating in the market from the previous few days will be reversed. Once the trend reverses, the Chainlink could reach its all-time high at $52 by the end of this year. The first half of 2022 shows moderate growth with resistance at $28 and no major falls. If things remain optimistic due to major developments and upcoming upgrades and projects, the price could touch a new high at $70.
Chainlink price prediction 2023
Our analysts have predicted strong bullish sentiment for the token for the next year. More buyers are expected in 2023, which could push the prices to even $100. However, the minimum level in 2023 has been set at $65.
Chainlink price prediction 2024
Analysts suggest a powerful LINK token price potential considering the increasing number of partnerships and developments. More and more partnerships and integrations could be expected in 2024, which could drive the prices to reach as high as $160.
Chainlink price prediction 2025
Our analysts have been highly optimistic about this token, as, in the coming five years, they see the LINK token reaching as high as $250. As they believe people will start buying more crypto with better knowledge and understanding of this sector, an increased level of investment will push the LINK prices much higher.
Top 3 questions & answers about Chainlink (LINK)
Will the Chainlink (LINK) coin crash?
If bears take over the market, the prices could crash, but they are already at a lower level, so the loss chances are comparatively low.
Will Chainlink (LINK) increase rashly?
According to the forecast and algorithmic analysis, the price of one token will be around $250 in 2025.
Will Chainlink (LINK) overtake BTC?
No, it is doubtful for LINK to overtake BTC as the leading cryptocurrency shortly.