Chainlink Price Prediction: Is LINK Crypto a Good Investment?

May 22, 2024

Price Prediction

Sean Korbett

Chainlink (LINK) was created to address the ‘oracle problem,’ which refers to introducing offchain data to the blockchain in a secure way without relying on a centralized entity. The blockchain does this by incentivizing data providers (called ‘oracles’) to act as a bridge between the smart contracts and external data sources. Additionally, this chain-agnostic project significantly enhances smart contract capabilities by allowing access to data outside the blockchain and off-chain computing while keeping blockchain technology’s security and reliability assurances. Can Chainlink reach $1,000? Discover the long-term Chainlink price prediction in StealthEX’s latest article.

Chainlink (LINK) Overview

Chainlink is an Oracle network that supports a range of Web3 and cryptocurrency-related initiatives, protocols, and blockchains. Oracles give blockchain-based protocols and systems access to data that is not stored on the blockchain. Ethereum, for instance, can determine how many ETH tokens are in each account, but it is unable to determine how much an ETH token is worth because that information is dependent on offchain sources like centralized exchanges. 

This problem is resolved in 2021 by Chainlink’s Decentralized Oracle Network (DON), which also aims to reduce or eliminate centralization issues that may come up when using offchain data. In August 2021, Chainlink’s Automation product went live on Ethereum following a successful beta event. In July 2023, Chainlink’s CCIP officially launched on mainnet across Avalanche, Ethereum, Optimism, and Polygon with support for derivatives and lending protocols. In August 2023, Chainlink published a Staking v0.2 roadmap for LINK. 

Chainlink is the product of a blockchain-focused technology startup called SmartContract. Founded in 2014, the company’s aim is to harness blockchain technology – specifically smart contracts – to make contractual agreements that can be used by all participants in the industry, regardless of their skill level and expertise. Backed by San Francisco-based investment group Data Collective, Smart Contract set about making its vision a reality with a team of industry-leading innovators.

Sergey Nazarov is the CEO and co-founder of the company. Prior to SmartContract and Chainlink, Sergey had history in the space as the founder of Secure Asset Exchange, a cryptocurrency exchange. He also founded a completely decentralized email service, dubbed CryptoMail. Steve Ellis is CTO and co-founder of the company, while Ari Juels, a computer science professor at Cornell Tech and the director of IC3, works as an advisor to the Chainlink team.

Chainlink Features

Chainlink offers a number of features within the crypto space. These are:

1. Supporting decentralized data feeds. Data from many sources can be securely collected and processed for hybrid smart contracts.
2. Providing verifiable sources of randomness. Applications such as games that require cryptographically secured randomness can use Chainlink.
3. Enabling automation. Chainlink smart contracts can automate critical functions and event-driven tasks for enterprises.
4. Supporting cross-blockchain interoperability. Chainlink can connect blockchain platforms to support the exchange of messages, tokens, and specific actions.

Chainlink (LINK) Price Chart    

CoinMarketCap, 22 May 2024

Chainlink (LINK) Price History Highlights 

• 2017-2018: During the token’s September 2017 debut, one billion tokens were created. A public sale was held for about 35% of the total, with a price range of $0.09 to $0.11, raising $32 million. Over two years after the token’s debut, the price never rose over $1.30.
• 2019: In 2019, with a rush of new alliances with companies including Reserve, Polygon Network, and Google Cloud, link costs shot up to $5, a 489% increase. 
• 2020-2021: Link’s price broke $20 for the first time in August 2020 after a series of other collaborations, one of which involved Provide. Link’s price increased by more than six times between December 2020 and May 2021, when it hit an all-time high of $52.88.
• 2022: The worst performing year for Chainlink was 2022 when the price dropped by -71.50% from $ 19.54 to $ 5.57.
• 2023: The comparison of Chainlink close price on October 22, 2023 ($8.89) vs November 21, 2023 ($14.51) reveals that the closing price of LINK has increased by 63.12%. Looking at the value of Chainlink traded volume, we can see that on the first day of the 1-month period, $731,164,195 worth of LINK were traded. Compared to the last day’s volume ($612,750,610), there’s a clear 16.20% drop.
• 2024: In 2024, LINK price went as high as $21.41. At the moment, its price hovers around $15-$17.

Chainlink Price Prediction

LINK Price Prediction 2024

DigitalCoinPrice experts believe that in 2024 LINK coin’s price might go as low as $15.05 (-9%), while at its high it can reach $36.93 (+121%).

PricePrediction crypto analysts expect that in 2024 LINK coin is going to hover within a tight price frame: $20.29 (+21%) at its low vs $23.92 (+43%) at its peak.

Telegaon crypto experts think that the lowest price LINK can hit in 2024 is $22.91 (+37%) vs its maximum price of $34.14 (+104%).

Chainlink Price Prediction 2025

According to DigitalCoinPrice, in 2025 LINK coin can go as high as $43.45 (+160%) at its peak. Its lowest price might drop to $36.03 (+115%).

PricePrediction forecasts promise that in 2025, LINK’s lowest price is going to reach $30.44 (+82%), while at its highest point LINK crypto can get to $35.26 (+111%).

Analysts at Telegaon expect that in 2025, LINK coin will rise in price: it can reach a maximum price of $46.56 (+178%), while at its lowest point it can drop to a minimum of $34.36 (+105%).

Chainlink Price Prediction 2030

According to DigitalCoinPrice, by 2030 LINK might reach $125.71 (+653%) at its highest point, while even at its minimum it can hit $113.52 (+580%).

According to PricePrediction forecast, by 2030 LINK will shoot way over its current price levels: its lowest price is projected to be $195.75 (+1,072%), while at its peak it’s supposed to reach $230.35 (+1,280%).

Telegaon price predictions estimate that by 2030, Chainlink is going to reach $97.14 (+482%) at its minimum and might trade at a maximum of $125.32 (+650%).

Chainlink Price Prediction 2040

According to PricePrediction forecasts, in 2040 LINK will reach staggering price levels: its minimum price is expected to be a whopping $9,524 (+56,964%), while its maximum price is going to hit $11,617 (+59,504%).

Telegaon analysts expect that by 2040, LINK is going to significantly increase in price: $235.78 (+1,312%) at its minimum vs $274.45 (+1,544%) at its maximum.

Chainlink Price Prediction: Experts’ Opinions

When it comes to data, compute, and cross-chain services, Chainlink has one of the highest aggregates of demand. This is significant since supply and demand typically follow in marketplaces. This demand pulls all the best nodes, data sources, and compute platforms together once you have developers that use the Decentralized Computing Marketplace on the backend to build hundreds or thousands of oracle networks to power their verifiable apps. Due to this, LINK token is likely to rise in price in the future.

Some experts think that even if Chainlink goes down momentarily, it will still be part of its way to success. For instance, a popular crypto analyst CrediBULL Crypto just issued a warning that the price of Chainlink (LINK) would drop by 50% to 60%. However, according to his explanation, LINK holders shouldn’t be concerned, since a price reduction of this kind is a normal aspect of the cryptocurrency token’s development.

Insinuating that many levered players joined Chainlink on the pump to a significant resistance level, he made reference to the increase in the open interest in the cryptocurrency token. The analyst believes that as soon as Bitcoin pulls back and the cryptocurrency market begins to bleed again, investors who started long positions will probably start to close them.

LINK USDT Price Technical Analysis

Tradingview, May 22, 2024

Now that we’ve seen possible price predictions for Chainlink, let’s find out a bit more about the factors that can influence its price.

Factors Affecting Chainlink (LINK) Coin Price

The price of Chainlink is influenced by a mix of market trends and the cryptocurrency’s unique developments. Its price may fluctuate in response to the ups and downs of the larger cryptocurrency market, particularly fluctuations in the value of Bitcoin. Because of its decentralized oracle network, Chainlink offers a unique value proposition: it enables interoperability between blockchain networks and real-world data. This practical application, together with alliances with other blockchain initiatives and the expanding market for decentralized financial (DeFi) solutions, will probably increase interest in LINK and drive up its cost.

Policies and regulations from the government regarding cryptocurrencies are also crucial. If the SEC decides to classify Chainlink as a security in the future, its developers may face legal repercussions. However, the effectiveness of the SEC in pursuing such claims is called into question by recent developments and precedents set by cases like XRP. Investor confidence in cryptocurrency ventures like Chainlink can be increased by clear laws.

When assessing LINK coin as an investment, keep the following considerations in mind:

• Supply and demand;
• Market sentiment;
• Expanding market for DeFi solutions;
• Wider adoption;
• Partnerships;
• Economic environment;
• Regulatory decisions.

Risks and Opportunities

With its proven track record of securing billions of dollars for leading DeFi protocols, Chainlink gives protocols the freedom to retrieve data from any off-chain API. Despite its success, the oracle-blockchain industry still has a tonne of room to develop because cryptocurrency is still a niche asset class. Moreover, Chainlink is blockchain-agnostic and has networks running on various Ethereum L2s, including Arbitrum and Optimism, in addition to Polygon, Binance, Solana, and Avalanche, just to name a few. Chainlink is time-tested, has already secured multiple billions of dollars across top DeFi protocols, and offers protocols the flexibility to access data from any off-chain API. Even with its success, the oracle-blockchain industry still has plenty of space to develop because cryptocurrency is still a niche asset class.

Nonetheless, Chainlink’s oracle network is still quite limited (~332 nodes) relative to a blockchain like Ethereum (with thousands of nodes) and could benefit from increased redundancy and security should it be further decentralized. And despite the network’s inarguable success, the token (LINK) has drastically underperformed other successful projects, such as ETH.

Can Chainlink Reach $1,000?

It’s not very likely that LINK will reach $1,000. Though Chainlink can grow in price and has the potential to do so, at $1,000 LINK crypto would have a market capitalization of $440 billion. While this can happen, this is not a very likely scenario.

Will LINK Reach $100?

It’s possible, and this might happen even before 2025.

Does Chainlink Have a Future?

Based on most LINK price predictions, it is a profitable investment, and the future price is expected to grow. However, it’s still advisable to do your own research and keep in mind that cryptocurrencies are extremely volatile.

Is Chainlink Crypto Safe?

Chainlink has a built-in oracle reputation system based on performance metrics that could also be the target of attacks or corruption. Further research into how the metrics are collected, stored, and protected would help guard against potential threats like reputation gaming or Sybil attacks. ChainLink is also relatively secure against ‘Flash Loan’ attacks. 

Why Is Chainlink So Popular?

Chainlink can be a technology which motivates and enables more streamlined home buying processes. It has also recognized that partnerships are essential for its development in the cryptocurrency market. Moreover, the technology seems solid enough to stand the test of time.

What Is the Prediction for Chainlink 2024?

According to PricePrediction, LINK will reach $23.92 at its highest point.

What Will Chainlink Be Worth in 2025?

Telegaon analysts think that by 2025, LINK crypto will reach $46.56 at its peak.

Where Will Chainlink Be in 5 Years?

It’s hard to say, however, most predictions state that Chainlink will develop further and rise in price.

How Much Will LINK Cost in 2030?

PricePrediction assumes that by 2030, LINK will jump to $230.35.

What Will Chainlink Be Worth in 2050?

There are few predictions that go this far, however, PricePrediction analysts believe that in 2050 LINK might reach a maximum price level of $17,004.

Conclusion

Chainlink bridges the gap in the market by offering a platform for oracle trading. One issue with smart contracts in Ethereum and other blockchains is the absence of a decentralized infrastructure for trading with Oracles. As the initiative is still in its early stages, it will take time to determine whether the system functions as planned.

The relevance of data providers like Chainlink will only increase as more and more smart contracts find appropriate applications. If Chainlink keeps expanding and follows through on its goals, it does have a very bright future. Staking’s debut will also mark a turning point in the development of Chainlink Economics 2.0, which will improve network economics and long-term security.

All in all, Chainlink aims to develop a stable and expanding user base and scale its network to become a worldwide standard. All of this might drive the price of LINK up and let the project be propelled even higher up the ranks of top10 best cryptocurrencies.

Where to Buy LINK Coin?

StealthEX is here to help you buy LINK crypto if you’re looking for a way to invest in this cryptocurrency. You can buy LINK privately and without the need to sign up for the service. StealthEX crypto collection has more than 1500 different coins and you can do wallet-to-wallet transfers instantly and problem-free.

How to Buy LINK Crypto: Quick-Step Guide

Just go to StealthEX and follow these easy steps:

• Choose the pair and the amount you want to exchange — for instance, ETH to LINK. 
• Press the “Start exchange” button.
• Provide the recipient address to transfer your crypto to.
• Process the transaction.
• Receive your crypto coins.

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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.