Chainlink was one of the best-performing assets in 2019 and 2020 because of its use case and DeFi. Is chainlink a good investment in 2021 still? In this article, we review Chainlink‘s fundamentals and give a Chainlink price prediction for 2021 and the future.
Chainlink is a decentralized network of oracles. An oracle is a program that can connect off-chain data with on-chain functionality like smart contracts. It does so by “translating” said data into a set of smart contracts and verifying it with other oracles.
The Chainlink network is finding a lot of use in DeFi. For instance, it can be used to feed the price data to decentralized exchanges. Google Cloud is using Chainlink as a tool for developing blockchain applications.
The oracle operators in Chainlink are rewarded for their job in LINK tokens. They can serve as collateral to improve the trust rating of their node, which means more jobs for it.
If you want to know more details about how exactly Chainlink works, we recommend referring to our Guide to Chainlink.
Chainlink testnet and LINK was launched in Q3 of 2017. In an ICO, LINK was sold for about $0.11, and at the same price it entered the market. In the end of 2017, following the market, it rose to over $1.
The 2018 correction was followed by a bear market in LINK as well.The closing price for LINK in 2018 was about $0.3.
2019 was the year when the Chainlink’s success truly began with the launch of mainnet. Not long before the mainnet went live, Google Cloud announced they will start developing hybrid blockchain-cloud solutions using Chainlink. After this Chainlink news, the price pumped to little short of $4.
The year closed with the LINK price at $1.80, but it ended up being one of the best performing assets in 2019.
By the end of June 2020, LINK already beat the previous price record, and on July, 16 reached $8.80. It was mostly caused by the launch of the Chinese national blockchain network, which has Chainlink price oracles integrated. Over the course of 2020, it was among the top performing DeFi coins.
The rally continued in 2021, and the current ATH of $36.83 was reached on February, 20.
Today, at the moment of writing the article, the LINK price is $25.67. In the CoinMarketCap rating it ranks 11th.
For Chainlink, the most value comes from the partners who use their product. The list expands almost on a daily basis. Existing collaborations include large players such as Google, SWIFT or Intel.
The focus of the team today is in integrating other blockchains into the network. For that purpose, they are giving grants for projects that will include Solana, Polkadot, Filecoin and Tezos in the ecosystem.
Interest in DeFi
Decentralized finance as a whole is becoming increasingly explored by all kinds of enterprises. Since Chainlink’s utility comes from on- and off-chain communication, there are a plethora of use cases for Chainlink in DeFi. For this purpose, Chainlink is being integrated into such projects as Bancor v2, Celsius Network and Synthetix.
The Chainlink network is also seeing a considerable amount of recognition for its utility even from the government and financial institutions. Like it was mentioned in the previous paragraph, it is integrated in the Chinese national Blockchain Service Network. Grayscale is now offering LINK exposure with its trust.
Partnerships and working use cases like this certainly increase the credibility and value of the project and, as a result, attract the interest of investors to the token as well.
Tweets about LINK
ANNOUNCEMENT: 5 new products have been added to the @Grayscale line up!
— Michael Sonnenshein (@Sonnenshein) March 17, 2021
Grayscale CEO Michael Sonnenshein announced the new trusts on his personal Twitter. A week later, the trust holdings come up to $2.3 million dollars.
— 𝕋ℍ𝔼⬡ℂ𝕌𝔹𝔼⬡ℂ𝕆𝕃𝕃𝔼ℂ𝕋𝕆ℝ (@1BTCequals1BTC) March 25, 2021
Twitter user @1BTCequals1BTC remembered the March crash of 2020. Back then, LINK was only $1.85. Long term really helps to put things in perspective.
— ⬡ 𝘚𝘲𝘶𝘢𝘵𝘤𝘩 ⬡ (@squatch_crypto) March 25, 2021
Trader Squatch chiming in with a fresh technical analysis. In their opinion, LINK is set for a breakout in April.
LINK Price Prediction 2021
Brave New Coin LINK price prediction 2021: $54
Josh Olszewicz of Brave New Coin gives a very temperate assessment of LINK in 2021. His reasoning is that Smart Contract LTD., the company developing Chainlink, is selling their tokens at an increasing rate.
On the other hand, Grayscale Chainlink trust outweighs that bearish sentiment. Within 2021, Olszewicz expects the LINK price to reach the $54 resistance. However, based on his analysis, he can’t see it going further up.
AMB Crypto LINK Price Prediction 2021: $24.50 or lower
Namrata Shukla of AMB Crypto analyzes the recent dip. Her conclusion is that Chainlink markets are bearish right now, as the asset visited the oversold area. The crucial support area lies at $24.50, and if it is breached, the downtrend could continue.
PricePrediction.info LINK Price Prediction 2021: $56.4248
What will the price of Chainlink be in 2021? PricePrediction.info at the moment of writing estimates that LINK can reach $56.4248 until the end of 2021. With the current price at $24.73, the change that will occur until December is +128%. The growth estimate is given with the fundamentals of LINK in mind.
The CoinArbitrageBot info hub today shows that in a year Chainlink token’s price will actually drop. Later in 2022, it is set to grow and on average that year, be traded at $42.4748. The 2023 average is predicted to be $68.7242, and 2024 — $111.196.
And another source gives a moderately bullish prediction for Chainlink. Judging by the minimums, in 2022 through 2024 LINK will rise steadily up to $35.86 in December 2024. Maximum prices paint the same picture, a rise from $33.040 in January 2022 to $52.730 in December 2024.
2025 LINK Price Prediction by DigitalCoinPrice: $81.01 average
DigitalCoinPrice gives a somewhat conservative prediction. By December 2025, LINK will be traded around $94.52. Lowest prices that year are expected to be seen in May, when on average LINK will be worth $70.10.
2025 CryptoRating LINK Price Prediction: $863
Due to the strong fundamentals and use case of Chainlink, CryptoRating gives a very bullish Chainlink forecast. Over the course of five years, the token’s price on average will grow and increase by +3,823%, coming up to $863.
While this return looks too promising to be true, mind that LINK’s return on investment is already 17,442.42%. Anything is possible in the world of crypto!
A relatively modest scenario is predicted by Longforecast. Sure, LINK in five years will rise in comparison to today. The change, though, will only amount to +55.7%, making the closing price in March $39.37.
Trying to guesstimate a possible Chainlink price in ten years is far from easy. Cryptocurrency Price Prediction gives the estimated range of $800.07–$844.01 for LINK price throughout the year 2030.
Chainlink is truly one of the most promising projects connecting crypto with the real world — literally and figuratively. The experts’ analyses confirm that with more partners joining the ecosystem, the value of the network will keep rising. It is very likely, in our opinion, that another new all-time high will be reached this year.
You can get LINK tokens on ChangeHero at the best rates and with no registration — feel free to join the ranks of LINK marines! How to buy LINK on ChangeHero?
- Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
- Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
- All done? Now we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives.
- The Best Rate transactions will use the rate current to the time when your funds arrive.
- The Fixed Rate will use the rate at the time of step 1;
- As soon as the exchange has been processed, your LINK is on the way to your wallet.
Our customer support is available any time, any day in the chat on the website or through the email: email@example.com.
Here is our prediction and experts’ opinions on Chainlink future price. It may not be as hyped as it was in 2020 but by now it’s made a name for itself.
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This article does not constitute financial or investing advice. No price prediction or forecast is guaranteed to provide exact information on the future price. Past performance is not indicative of future results.
When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investitions in cryptocurrencies only after careful consideration and analysis and at your own risk.