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Chainlink Price Index – Real-time price graph

Chainlink Price Live Performance Indicators

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Chainlink Price Summary

Chainlink’s price really took off in the first few months of 2021, along with the rest of the crypto market. Launched in 2017, the price of LINK first crossed the $1 mark at the start of 2018, coinciding with the peak of the previous crypto market bull run. LINK has managed an ROI of over 14,000% between its all-time low of $0.12 registered four years ago and July 2021 — most of those gains registered in the past eight months. 

However, it dropped with the onset of the 2018 bear market, losing much of its value and returning to the $0.20 level, where the price would spend most of the next 16 months before crossing $1 again. After May 2019, LINK price built momentum, eventually managing to cross the $4 mark for the first time in February 2020. By mid-August of the same year, the coin had experienced the year’s first major rally, peaking at about $20, before shedding half of its value in September. Then another rally started at the end of December, culminating in an all-time high of $52 in early May 2021. Since then, Chainlink’s fortunes have reversed as the coin saw a significant correction along with the rest of the market, losing 66% of its value, with the current price sitting around $17, as of July 2021. 

As you can see, the price is highly volatile, creating opportunities for both traders and investors. Contrary to popular belief, both parties stand to benefit by following the coin’s price development keenly. The trader can take advantage of the short-term price volatility while the long-term investor can buy the dip when the coin is correcting, thereby increasing their portfolio significantly by entering the market at a low price. 

Chainlink Price History

Even though most projects will see significant gains during a bull run since money is flowing into the market, a project’s price is also likely to be fuelled by exciting pieces of news. These could include achieving a particular milestone, integration of new features, onboarding new partners and so on. In the case of Chainlink, its price gains have been linked to certain developments around the project.

The price of Chainlink didn’t really take off until around July 2020, when it managed to cross the $6 mark. Within the next 12 months, the price would peak before dropping significantly. Behind the scenes, the project was busy onboarding partners. According to data from the ecosystem portal, the project has been onboarding partner integrations at the rate of more than 1.4 each day in 2021 so far. This year alone, there have been 281 integrations, and there are still a few months left to go. This has brought the all-time total to 650 integrations. In contrast, there were about 250 partners onboarded in the whole of 2020.

While most of the partners are little-known projects just getting started, there are also a few big players well known within crypto circles. They include Huobi’s ECO Chain, Alchemix and the Hedera Governing Council. 

Chainlink Price Prediction

This part will cover price predictions for LINK and highlight a few factors that can move the price significantly as we head into the last quarter of the year. These include onboarding more partners and the use of Chainlink’s Verifiable Random Function (VRF) by various projects.

As stated earlier, Chainlink has onboarded more partners in the first seven months of 2021 than in the whole of 2020. This is a bullish signal reflected in the price of LINK, which managed to grow by about 400% between December 2020 and May 2021. The price then corrected with the rest of the market but is likely to rally again as more partner integrations are achieved moving forward. 

Another factor fuelling the price of LINK is the number of projects using Chainlink’s VRF, which offers decentralised applications (dApps) a secure and automated solution for generating randomisation. For example, Infinity Skies, a blockchain-powered game, uses Chainlink to distribute its in-game “loot” fairly.

Such use cases should see the price of LINK continue to grow moving into 2022. If the market resumes its rally and with these partnerships, it seems likely that LINK could revisit its all-time high price sooner rather than later. 

Expert Tip on the Price of LINK

To make the most of the volatile price of LINK, you will have to invest some time to educate yourself on trading. Understanding how to conduct technical and fundamental analysis will improve your success rate significantly; otherwise, you will be entering the market blind, which will likely lead to losses. Even if you are playing the long game, you need to understand strategies such as dollar-cost averaging, that is, spreading out your buys to reduce the impact of volatility on the overall purchase. Also, as a long-term investor, you have to understand what the project offers and if it has a chance in the future. So, dedicating some time to gain better insight on various aspects will serve you well.
- Basil Kimathi

About Chainlink

Chainlink is an abstraction layer that enables universally connected smart contracts. Using a decentralised oracle network allows blockchains to securely interact with external data feeds, events and payment methods. The project can provide the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement. The project is run by a large, open-source community of data providers, node operators, smart contract developers, security auditors, researchers and many others. 

Chainlink was founded in 2017 by Sergey Nazarov and Steve Ellis as a decentralised network project that allows users to become node operators and earn revenue by running the critical data infrastructure required for the success of blockchain. The network uses many node operators who collectively power a wide range of decentralised Price Feed oracle networks live in production, which secure billions in value for leading decentralised finance (DeFi) apps such as Aave, Synthetix, yEarn and many more. 

The crypto market may have corrected over the past few months, but many analysts believe the bull run isn’t over. As Chainlink becomes more critical to the survival and functioning of various smart contracts, you can probably expect to see the value of its token grow. Therefore, don’t be surprised if we see this token beat its all-time high price of $52, probably by the end of the year. 

Chainlink Value Compared to Other Cryptocurrencies

Frequently Asked Questions

  1. Suppose you intend to trade and make the most of the daily price volatility. In that case, you will have to educate yourself on conducting technical and fundamental analysis, setting a stop-loss and taking profit. Also, you can consider using brokers to trade financial instruments attached to the asset with higher profitability. If your goal is investing for the long-term, you should acquire a hardware wallet and move your tokens there once you purchase them.
  2. This depends on how much you have planned for this activity. There is nothing wrong with making small investments periodically and watching as your portfolio grows over time.
  3. Chainlink is one of the first networks to allow the integration of off-chain data into smart contracts. And thanks to its many partners, the project remains one of the major players in the data processing field.
  4. Yes. Chainlink is an oracle network that is well trusted within the crypto space and feeds smart contracts with the crucial off-chain data they require to self-execute the right way. As smart contracts technology becomes more commonplace, this project should continue to be popular.
  5. There are plenty of free resources supported by various exchanges and brokers that one can use to educate themselves on how to trade and invest in Chainlink. Also, you can opt for paid courses if you can afford them. But ensure they are from credible providers. A quick search of what other people have to say about the course can help.
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