logo

Chainlink Price Prediction 2023-2031: A strong buy sentiment for LINK?

chainlink price prediction

Chainlink Price Predictions 2023-2031

No one could say if — and when — the crypto winter is ending. Some successful strategies can be regarded as “green shoots” for creating hope for the crypto industry. ETH witnessed three consecutive weeks of inflows after 11 straight weeks of sell-off, according to a CoinShares report. Fear not, and let’s explore Chainlink Price Prediction.

ChainLink’s primary value proposition brings interoperability to the blockchain sector. Chainlink is the leading oracle providing an essential service to the growing number of smart contracts. Within the larger cryptocurrency market, it’s one of the least risky bets.

Interoperability allows two blockchain networks to exchange information and value without intermediaries. Most popular blockchain projects such as Bitcoin, Ethereum, and Ripple have existed for a long time without communicating with each other. Interoperability enables swift information sharing, more straightforward execution of smart contracts, and exchange blockchain solutions.

Today’s Chainlink price is $6.80 with a 24-hour trading volume of $431,646,140. Chainlink is up 4.96% in the last 24 hours. The current CoinMarketCap ranking is #21, with a live market cap of $3,455,343,492. It has a circulating supply of 507,999,970 LINK coins and a max. supply of 1,000,000,000 LINK coins.

Let’s look at why –or why not — you should add LINK to your crypto investment portfolio.

Also Read:
• How To Stake Chainlink?
• How To Buy Chainlink?

What is Chainlink (LINK)?

Chainlink is primarily a decentralized oracle network that provides real-world data to smart contracts on the blockchain. Smart contracts are pre-specified agreements on the blockchain that evaluate information and automatically execute when certain conditions are met. Chainlink’s smart contract platform has made this a reality through its Oracle Network. In this article, we will unveil our Chainlink price prediction. It is imperative to know the future price before investing.

Chainlink discovered how to feed in and obtain info from blockchain networks that are decentralized, dependable, and tamper-resistant. Further, it developed a network of nodes to exchange information between blockchains, which ultimately became an important smart contract innovation.

As such, Chainlink oracles can share crucial information, including price feeds, and the outcome of an event, and connect to traditional settlement methods in a decentralized but tamper-proof way. In other words, Chainlink exists as a decentralized oracle network composed of data buyers and Chainlink node operators.

  • The buyers’ order information and the Chainlink node operator deliver the info securely. The buyers choose the information they need to be supplied, and the vendors bid to do the supply.
  • The vendors must dedicate some LINK tokens to acquire if they violate the rules to make a bid. Once the vendors are picked, they are now tasked with giving the right answers through blockchain.
  • The information is aggregated and weighed by an oracle reputation system developed by Chainlink. If the transaction is completed without problems, the vendors are paid both parties are satisfied.
  • Along with this, Chainlink Keepers is also now live, and ChainSafe has recently received huge funding from Chainlink Community Grant. This funding aims to improve and advance the development of web3.js.
ITB Widget Example

Chainlink Applications

Due to the way the smart contracts of Chainlink were developed, Chainlink has the prospect of fitting into every facet of our lives. Chainlink’s smart contracts were developed to solve the issue with Oracle. The Oracle problem is that blockchains were disconnected from the outside world.

The smart contracts for Ethereum and other crypto assets could only fetch data that was already stored on the blockchain. However, non-deterministic data (data outside the blockchain database) could not be fetched. However, the introduction of Chainlink introduced a middleware solution that could fetch data from outside a blockchain database. 

It was done by creating decentralized networks of Oracles, and the fascinating thing here is that the blockchain is not in any way affected.

The ground-breaking development raises the prospect of Chainlink through the roof, and the technology is applicable in the following areas: using satellite imagery in the military for information gathering; triggering insurance payouts; global trade; direct transactions which cut out intermediaries for post-trade processing; paying your workers or getting paid in real-time for services rendered; can be used during elections to vote; can be used for trading on gaming platforms, etc.

Where to buy Chainlink (LINK)?

To use Chainlink’s oracle system, you need to have Chainlink’s native token, LINK, as a payment means for the service. Chainlink network is built on the Ethereum network and utilizes ERC677, which obtained its efficacy from ERC 20 token standards and enables token transfer to comprise a data payload.

The ERC677 is also utilized for settlement with a Chainlink node operator who supplies and feeds data into the network, paid for by the buyers. The vendors decide the cost of the service after bidding.

Many investors are wondering where to buy the token Chainlink. Apart from earning Chainlink tokens by participating as an oracle or a node operator, they can also be acquired from a cryptocurrency exchange.

Top crypto exchange platforms such as BinanceCoinbase, and Gemini allow individuals to buy LINK using fiat currency via a credit card or debit card, bank transfer, etc. Use a hardware wallet to store LINK tokens securely.

When did Chainlink reach its all-time high?

The popularity and demand for smart contract technology surged in 2021 due to the heightened proliferation of blockchain tech and the Ethereum blockchain’s upgrade. On January 23, LINK’s price reached a new all-time high of $52.

The price of Chainlink continued the positive momentum, and a little later, it was trading at record levels above the $30 price level. On February 14, 2021, LINK peaked at $35.58, setting a new all-time high, but it has since retraced lower.

The coin surged after a small downward trend, reached another all-time high, and traded at $52.43 on May 10. This was the new all-time high set by Chainlink in May.

It couldn’t continue this price growth; shortly afterward, it fell nearly half this price. Chainlink’s price today is just above 25 USD.

What drives LINK price?

Certain prominent elements affect the market value of any cryptocurrency. Such factors include economic news, market sentiments, and government regulations. Apart from these popular asset price influencers, we have identified some more factors responsible for the price actions of LINK.

  • Chainlink Future Developments

Chainlink continues to garner significant appeal among developers, and it has completed over 300 integrations with nodes, data providers, DeFi, and blockchain-based projects. To date, every single Chainlink integration has bolstered LINK’s market capitalization, and continued growth is expected.

The more projects linked to Chainlink, the higher the market price of LINK, especially if the projects boom with impressive scalability. In 2021 alone, Chainlink had over 700 partnerships, integrations, and collaborations; in the first quarter of 2022, the project added 140 more.

  • Speculations and Interests

The surge in the price of LINK is often tied to rising interest in the coin and significant DeFi developments. It is no hidden secret in the crypto market that when institutional investors turn to an asset, its price goes up.

Similarly, speculations play a significant role in the price of any asset. The value of LINK will respond to rumors in the crypto space, news, and discussion in public columns among miners, investors, and devs.

More importantly, DeFi migration for centralized finance systems will undoubtedly generate massive speculative interest in blockchain projects like Chainlink.

  • Oracle Services Functionalities

The output of a smart contract is only as good as its external data sources. Hence, if the data source is malicious, the smart contract outputs inaccurate outcomes.

Ensuring the validity and accuracy of data sources is one colossal concern that Chainlink solves via its oracle services. The expansion of Chainlink’s functionality could significantly impact LINK’s market value, as seen in 2019 when Google announced a Chainlink integration that led to a giant leap in the coin’s value.

More future integrations and real-world applications will definitely affect LINK’s price.

Where to store LINK

You can use a software wallet (e.g., MetaMask, Trust Wallet) or a hardware wallet (e.g., Ledger, Trezor). When it comes to using a crypto wallet vs. an exchange to store your coin, crypto wallets are generally preferred. However, these options are a bit more cumbersome and do come with their own risks. For example, if you lose your wallet keys, nobody will unlock them for you. But crypto investors still recommend using these wallets because they give you full control over your coins and are less likely to get hacked.

Chainlink Price History

Chainlink’s all-time performance

2018 began with a strong bullish rally, and most digital assets were at their summit. Chainlink token was not an exception. However, after that, a sharp freefall in the altcoins market resulted in billions of dollars being wiped out of the market.

We are currently witnessing a somewhat similar situation. Most altcoins are currently at one-half to one-fourth of their all-time high.

Not many altcoin projects managed to survive the famous crypto winter season. Some altcoins like Ethereum price and Chainlink price managed to endure the dark moment, and their price began rising.

2019 was a very significant year for Chainlink. Its token LINK was performing very impressively in the market. The performance is heavily associated with the pioneering DApps on the Chainlink network and listing by a few crypto exchanges, such as Bitbox, the previous year.

This drove the LINK price from $0.3 at the beginning of the year to a record $1.13 by May 2019. The oracle coin broke its ATH twice more that year, and on June 24, 2019, LINK’s price reached a record $4.540. The bullish rally was heavily driven by the release of the Chainlink network on the Ethereum main network.

In 2020, the Chainlink project emerged as the top performer of all cryptocurrencies beating significant cryptocurrencies like Bitcoin and Ethereum for the second year in a row. Bitcoin price The massive rally was heavily connected to the 2020 DeFi craze.

LINK began trading at around $1.70 and hiked toward $4.570 in February. LINK remained quiet until mid-July when the LINK price rallied towards a new ATH at $8.40. The rally continued, and Chainlink’s digital asset price almost hit $20 but faced rejection and pulled back to under $12.

In 2021, Chainlink’s price enjoyed a strong bull run as wave-like bullish activity caused the price to rise from the $12.00 mark to the recent highs of $36.00.

Chainlink’s price faced strong resistance at the $36 mark, which it could not break through and ended up being rejected from the level. The rejection caused the price to fall to the $23.50 mark before the price bounced back to the $30 support level.

Afterward, in May, the coin reached its all-time high of $52.88, and from thereon, it started to fall. The fall in the price of Bitcoin affected Chainlink until it was $30.

Meanwhile, the price of the coin has been changing its direction towards a surge since the beginning of 2022. 

Chainlink Developments

Late in September, Chainlink (LINK) wrapped up its annual conference, reaffirming its status as the leading blockchain oracle by unveiling new products and institutional collaborations.

 In addition to announcing product development partnerships with Chainlink, Coinbase Cloud and CF Benchmarks also revealed that they were using the cross-chain interoperability protocol. SWIFT, a global payment provider, revealed that it was using this protocol for token and messaging interoperability between various blockchains.

Chainlink Announced the Staking Plans, Aiming to Be AWS of Web At SmartCon 2022. Chainlink Co-founder Sergey Nazarov unveils plans to launch staking in December, plus a new economic model for the Web3 services platform.

Recently, The 100+ expert speakers at this year’s SmartCon included founders of influential protocols in the Chainlink ecosystem. On September 28 and 29, 2022, in New York City, Nasdaq TradeTalks host Jill Malandrino filmed a two-day interview schedule with notable presenters highlighting their thought leadership.

Malandrino first spoke with Getty Hill, co-founder of GFX Labs, before sitting down with Michael Nowotny, co-founder, and CEO of Krypton, a decentralized exchange system created to reduce the inefficiencies of DeFi in order to make it easier and more affordable than conventional financing.

Nowotny believes that the absence of institutional support for DeFi’s expansion is mostly a result of the high transaction costs.

Nowotny said that Krypton employs a novel mechanism made possible by computing on Chainlink’s decentralized oracle networks to address DeFi’s inefficiencies.

He gave Chainlink credit for assisting Krypton’s team since they took home the first DeFi award at the Chainlink Fall 2021 Hackathon and helping Krypton at the protocol level. Investors in Chainlink will hope these fresh developments will boost oracle’s native token LINK and enable it to end a 16-month decline.

The Chainlink team recently announced the launching of its staking v0.1 early access slated for December 6th.

Chainlink Technical Analysis

Source: investtech.com

As seen on the price chart, LINK is within an approximate horizontal trend channel in the short term, which indicates further development in the same direction. Chainlink gave a negative signal from the rectangle formation by the breakdown through the support at $6.76. A further price decline to $5.43 or lower is signaled. 

In addition, there is no support in the price chart and a further price decline is could be imminent if the market goes south. RSI is below 30 after the falling prices of the past weeks. However, particularly in big stocks, a low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. 

Chainlink Price Prediction 2023-2031: A strong buy sentiment for LINK? 1

Analyzing the current Chainlink price actions in the long term shows that the coin has broken through the ceiling of a falling trend channel, indicating indicates the start of what could be a more horizontal price development. The Chainlink price analysis also shows that LINK has broken down through its support level at $8.00, and a further decline could be imminent. 

Chainlink Price Predictions by Cryptopolitan

The price of digital assets has continued to fluctuate erratically, and the ongoing crypto winter has just amplified this volatility. In past years, several projects have vanished during the crypto winter, but LINK has always weathered the storm due to its strong community and the value it offers.

Can Chainlink holders expect huge returns after the long hard bearish months? Here’s what we think about Chainlink starting in 2023.

YearMinimum Price ($)Average Price ($)Maximum Price ($)
202313.7115.7816.38
202418.7922.3622.81
202524.4928.2529.20
202624.4928.2529.20
202730.2634.2134.54
202843.0346.6747.72
202962.1265.3565.89
203087.6790.2691.82
2031119.52123.60124.12

According to our Chainlink price prediction for 2023, LINK will attain a maximum price of $16.38, if the demand for the coin sees significant growth during the year. Investors can expect a minimum price of $13.71 and an average trading market price of $15.78. Increasing demand for the asset, a general market uptick, and innovations in the Chainlink network are all potential drivers of a price increase.

Chainlink Price Prediction 2024

Our Chainlink price prediction for 2023 suggests that the uptrend will continue and LINK might attain a maximum price value of $22.81, an average of $22.36, and a minimum value of $13.27.

According to our Chainlink price prediction for 2025, the LINK token is projected to rise to a maximum value of $29.20. The forecasted minimum trading price of the coin is $24.49. Similarly, the market average is estimated to be $24.49. Non-Fungible Tokens and Web3 are areas of focus for Chainlink, which could impact price forecasts for the year 2025.

Chainlink Price Prediction 2026

Our Chainlink price prediction for 2026 projects a trading range of $24.49 and $29.20. Throughout the year, the LINK is expected to trade around $28.25 on average. The adoption of LINK can be boosted and the coin’s price can rise to the predicted levels if a number of key developments and partnerships go forward as planned.

Chainlink Price Prediction 2027

The Chainlink price prediction 2027 provided by our experts suggests that LINK’s price will reach a maximum of $34.54. By the end of 2027, an average trading price of $34.21 is anticipated, while a price as low as $30.26 is a distinct possibility.

Per our Chainlink price prediction for 2028, LINK is expected to reach a maximum price of $47.72. By the end of the year 2028, prices may reach an average of $46.67 and a minimum price of $43.03.

Chainlink Price Prediction 2029

Our Chainlink price prediction for 2029 expects LINK to trade at an average price of $65.35, and a maximum price of $65.89. The lowest price projection for 2029 is $62.12.

Chainlink Price Prediction 2030

Our Chainlink price prediction for 2030 suggests that the LINK price might touch a high of $91.82. LINK might also attain a minimum value of $87.67 and an average of $90.26.

According to our Chainlink price prediction for 2031, LINK is likely to trade at an average price of $123.60 and a maximum price of $124.12.The minimum price forecast for the year is $119.52. Since the widespread use of LINK is anticipated in the not-too-distant future, institutional investors could potentially come in for LINK, which might send its price soaring to new heights.

Chainlink Price Prediction by Wallet Investor

Wallet Investor’s prediction algorithm indicates that the cryptocurrency Chainlink (LINK) is not a viable long-term investment, and it further suggests that the value of the coin may drop below $0.600 in 2023.

Chainlink Price Prediction by Technewsleader

The Chainlink price prediction from Technewleader suggests that LINK will reach a maximum price of $8.29 by the end of the year. The expected price range for 2023 is $10.98 to $13.13. By 2025, the team expects a maximum trading price of $27.02 and a minimum of $23.03. The bullish run is expected to carry on in 2027, all the way to 2031, resulting in a maximum LINK price of $248.78.

Chainlink Price Prediction by PricePrediction.net

Chainlink price forecast from Priceprediction.net is also bullish. Their projection shows that LINK might reach a maximum price of $11.51 in 2023, and $23.48 by 2025. Also, their predictions show that Chainlink could potentially reach an average trading price of $124.05, and a maximum price of $145.90 by 2030. 

Chainlink Price Prediction By Industry Experts 

According to Ceko TheCryptoFish on YouTube, the crypto market seems to be turning slightly bullish and if LINK holds its position at $6 and breaks up through its resistance levels, we could see some massive price gains.

YouTube video

Remember that this video is not meant to galvanize your investment decisions. Always do your own research.

Conclusion 

Chainlink theoretically faces off against the entire cryptocurrency market as a cryptocurrency. However, there are only three major rivals to Chainlink as a project: Band Protocol, API3, and WINKlink. As connecting other projects is the primary function of oracle networks like Chainlink and the three listed above, the most crucial parameter for them is the number of partners they have obtained, making them compatible with one another and the outside world. Chainlink has ten times more collaborations and integrations than those three combined, putting it far ahead of its rivals. It is unquestionably the best.

The long-term price projections indicate LINK will likely reach new all-time highs as crypto adoptions intensify in the coming years. However, these are our Chainlink price predictions based on deep analysis and the tracking of historical data, so they are not investment advice, do your own research before taking an investment option.

[the_ad_placement id=”writers”]

FAQs

Is Chainlink a good investment?

At present, the cryptocurrency market is forecast to grow in the coming years, with LINK prices expected to rise along with it. However, there are a number of factors that could lead to a rise or fall in prices. These include advances in technology, changes in market conditions, and the actions of governments and regulatory bodies. As such, anyone investing in LINK should do so with caution and only after doing their own research.

Will Chainlink coin crash?

It is not possible to say definitively whether Chainlink prices will rise or fall in the future. However, as the cryptocurrency market is forecast to grow in the coming years, it is likely that LINK prices will also increase.

Where can I buy and sell LINK?

LINK can be bought and sold on a number of exchanges; Binance, FTX, Huobi Global, KuCoin, Kraken, Gemini, Gate.io, Coinbase Exchange, Bitstamp, Bybit, FTX US, etc.

Is LINK a good investment in 2022?

Whether or not to buy LINK is a toss-up, but the 2023 projections suggest that it may provide fair returns. In the end, if the market elements favor LINK, its maximum price could reach $16.38 in 2023, making it a good buy for 2022.

What's the predicted LINK price in 2030?

By 2030 Chainlink prices may reach new all-time highs not seen since the last bull run in late 2017 to early 2018. At this time, the average price for 1 LINK could be as high as $180.73 with an average price of $145.08.

Can Chainlink reach $1,000?

It is possible, but predictions and algorithms cannot anticipate the news and industry developments that ultimately inform a coin’s price.

Shawn Du'Mmett

Shawn Du'Mmett

Former IT development and consultant, remote team and collaboration expert, PM, CCO, writer, dreamer, idealist looking to collaborate with global teams on a global teal/turquoise organisation. Shawn's dream is working together openly, to get what writers need and want, and to solve biggest global problems. He is building a collaboration system from the start that everyone can own and define, allowing them to work together, to decide how it works and to their highest ideals.

Related News

Hot Stories

Bitcoin, Binance Coin, Polygon, and Litecoin Daily Price Analyses – 1 December Morning Prediction
Uniswap price analysis: Price progresses to $5.82 level as a result of bullish run
Here's why is Telegram building a crypto wallet and exchange
Top Cryptocurrencies to Invest In December: Chainlink (LINK), Cardano (ADA), and Orbeon Protocol (ORBN)
The Bitcoin Experiment, which made MIT Students Rich

Follow Us

Industry News

OpenSea ends 2022 with major partnerships and $1B in NFT royalties
Dealbook interview: New York Times continues to defend SBF & FTX collapse
Terra’s Do Kwon former colleagues targeted by the  latest arrest warrant
Sam Bankman-Fried first ever interview after FTX collapse
PoW crypto mining banned by NY governor: Will mining become extinct? 

Add Your Heading Text Here