One such project is Chainlink (LINK) which is attempting to bring interoperability to the blockchain industry.
In this Chainlink price prediction article, we will get to know the future price prediction of Chainlink and its overall possibilities. Let's look in detail at the LINK price now.
What Is Chainlink?
Chainlink is unique compared to other blockchain projects. The business model is solely focused on the creation of smart contracts for the outside world. Chainlink hopes to decentralize the Internet to bridge the gap between blockchains and the applications that exist in the real world.
The Chainlink system has a decentralized network of Oracles, so that smart contracts can safely interact with off-chain platforms. Chainlink was created and formed by an organization called SmartContract, which was founded in September 2014 by its CEO Sergey Nazarov and CTO Steve Ellis.
Chainlink node operators extract data from off-chain systems and convert them into blockchain compatible formats. They are awarded LINK cryptocurrency – an ERC-20 token based on Ethereum. According to the developers, the price of LINK is closely correlated to the number of node operators.
2020
ChainLink saw a significant price movement in January 2020 and ended in February. During this period, the coin managed to grow from $1.74 to $4.60 in a short time frame.
In March, it crucially fell back to its previous price point of $1.74. In April, it managed to recover, climbing back to $3.
Then on July 7, 2020, the LINK price underwent an impressive surge as China’s national blockchain network, the Blockchain Service Network (BSN) was activated with 135 nodes integrated with Chainlink price oracles.
The news saw the LINK price surge from around $4.87 USD to an all-time high of $5.60 USD, with gains of 15 per cent on the day
Chainlink continued an ascending trendline into mid-August, gaining bullish momentum. Into late September 2020, it saw sudden bearish activity before beginning its climb once again into October.
With the continuation of the bearish trend LINK’s price was trading at $11.17 and further plunged to $10.57. Later, the price started to grow steadily to hit $16.08 at the end of November. At the end of 2020, Chainlink was trading at $11.14.
Chainlink Price Prediction 2021
Chainlink continued the trading at $11.45 on the first day of January. The price started to rise further. Surprisingly, Chainlink recorded a new All-Time-High by hitting $25.65. The price might rise further if LINK performs well in the upcoming days.
Chainlink has drawn a lot of attention and attracted new fans to their project. Their activities and appreciation among other industry players have increased trust in the company. By the end of 2021, the coin may reach above $50.
Starting off by saying I'm not a financial advisor, these are predictions I do believe in the project this is not enough for you to invest but it is enough to start researching more and more about it, I believe it can surpass $100 dollars per coin till the end of the year. Do your research!