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Chainlink’s Whale Addresses Continue Heavy Accumulation As LINK Price Hovers Around $35

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While several other altcoins have been in the news off late, it will be a good time to pay attention to Chainlink (LINK). The oracle service provider cryptocurrency has been hovering around $35 levels with strong going whale accumulation. As on-chain data provider Santiment reports:

There are currently 64 addresses that hold between 1M and 10M $LINK. In just the last 4 days, these whale wallets have added 1.89% of the #Chainlink supply to their cumulative bags. They’re now up to 18.01% of the total supply, a new #AllTimeHigh held.

Unlike other altcoins, Chainlink (LINK) hasn’t aggressively participated in the altcoin bull rally recently. The Oracle service provider has given a decent performance with more than 20% gains over the last month.

The Chainlink ecosystem continues to gain strength on fundamental grounds. As more and more players within the DeFi ecosystem use Chainlink oracles, to communicate across networks, Chainlink continues to gain more market presence.

Chainlink Hits New Milestone in Total Value Secured (TVS)

One of the important metrics for the Chainlink (LINK) ecosystem has been the total value secured (TVS) across multiple blockchain networks. Last week, the total value secured (TVS) by Chainlink ecosystems has surpassed a staggering $76.5 billion.

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The Chainlink Price Feeds have currently emerged as the most popular networks oracle networks in DeFi. Hundreds of decentralized applications across Ethereum, Avalanche, and Binance Smart Chain (BSC) now rely heavily on the Chainlink Oracle networks. They provide “accurate, tamper-proof market data” thereby powering on-chain financial applications in decentralized lending markets. Speaking of the development, Sergey Nazarov, Co-founder of Chainlink said:

“Crossing $75Bn in total value secured makes the Chainlink network one of the most value securing forms of decentralized consensus on the planet. Chainlink networks are securing the most valuable smart contracts across multiple chains.

Without trusted price data to trigger smart contracts, it is impossible to build DeFi applications, and we do not think it is a coincidence that the rate at which Chainlink has been able to bring new market data onto blockchains has been the rate at which developers have been able to build exciting new DeFi apps.”

Chainlink’s native crypto LINK could be a potential contender for the next leg of the rally in altcoins.

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Chainlink Price Analysis: LINK retraces to $21, slowly looks to decline again?

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  • Chainlink price analysis is bearish today.
  • LINK/USD retraced to $21 Yesterday.
  • Another test of downside is currently in progress.

Chainlink price analysis is bearish today as selling pressure has returned after resistance was found at $21 late Yesterday. Therefore, we expect LINK/USD to move towards another test of downside later in the day.

Chainlink Price Analysis: LINK retraces to $21, slowly looks to decline again? 1
Cryptocurrency heat map. Source: Coin360

The cryptocurrency market has seen a strong recovery over the last 24 hours after a massive selloff previously. The market leaders, Bitcoin and Ethereum, are up by 6.09 and 8.6 percent, respectively. Meanwhile, Terra (LUNA) is the top performer, with an over 40 percent increase.

Chainlink price movement in the last 24 hours: Chainlink recovers to $21, starts heading lower again

LINK/USD traded in a range of $18.63 – $20.95, indicating strong volatility over the last 24 hours. Trading volume has declined by 39.8 percent, totaling $1.29 billion, while the total market cap trades around $9.3 billion, ranking the coin in 21st place overall.

LINK/USD 4-hour chart: LINK starts to decline again

On the 4-hour chart, we can see the Chainlink price slowly moving lower after resistance was found at $21 as bears look to retest downside.

Chainlink Price Analysis: LINK retraces to $21, looks to head lower again?
LINK/USD 4-hour chart. Source: TradingView

Chainlink price action has slowly declined over the past weeks, with the November low set at $23. From there, LINK/USD slowly retraced and set another lower high at $27 on the 1st of December.

Bears took over the market again over the following days. After some consolidation around $24.5 on Thursday, a heavy selloff started late on Friday. LINK/USD quickly lost 35 percent until the $17 mark. 

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Quick rejection higher followed early Yesterday, leading to a 25 percent recovery over the following hours. Resistance was found at $21 by midnight, leading to bearish momentum slowly returning overnight.

Chainlink Price Analysis: Conclusion 

Chainlink price analysis is bearish today as we expect the downside to be tested again after a quick retracement to the $21 mark, where resistance was found. Likely LINK/USD needs to set a higher low before more upside can be reclaimed.

While waiting for Chainlink to move further, see our articles on How to mine Monero, XRP vs BTC, and DeFi Wallet Review.

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Chainlink Price Prediction: Will LINK Price Surge Above $100 in 2022?

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One of those coins, and one that has been making front-page news ever since the rise of DeFi projects, is Chainlink. Its coin LINK amassed a large group of enthusiastic followers, including celebrities, industry experts, and tech futurists. the altcoin has grown rapidly and is one of the top-ranked cryptocurrencies by market capitalization

The altcoin has enjoyed an exciting rise to the top, but what are its prospects for the remainder of 2021? In this article, we will discuss the Chainlink price prediction and Market Analysis.

As Chainlink has strong fundamentals, investors believe that LINK Price is bound to pump eventually.

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Table of contents

  • What is Chainlink (LINK)?
  • Chainlink Price Prediction 2021
  • Chainlink Price Prediction 2022
  • 5 Years LINK Price Prediction
    • LINK Price Market Prediction
  • Our Chainlink (LINK) Price Predictions
  • LINK Price Historic Analysis
    • 2017
    • 2018
    • 2019
    • 2020
  • FAQ

Overview

CryptocurrencyChainlink
TokenLINK
Price$ 0.0000
Market cap$ 0.0000
Circulating Supply$ 0.0000
Trading Volume $ 0.0000
All time high$ 0.0000     January 1, 1970
All time low$ 0.0000     January 1, 1970

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. Founded in September 2014 by its CEO Sergey Nazarov and CTO Steve Ellis.

Chainlink node operators extract data from off-chain systems and convert it 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.

Fundamental Analysis

Since both Oracle and Chainlink work simultaneously for data conversion, the working might sound arduous. But in reality, it involves just 3 steps! Beginning the process, a smart contract requests data when required. The LINK protocol receives the request and generates a Chainlink Service level Agreement. 

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Meanwhile, the agreement will further generate 3 other contracts. One for reputation, which will check the Oracle and verify it. Secondly, the next contract acts as a bridge between the request contract and the nodes that take the requests. 

The translation of off-chain to on-chain data and vice versa is taken care of by the Chainlink Core. The request is first converted to an off-chain form so that the real-time information can read the request and easily fetch the required data via an API. After the accurate information is at the nodes, they are further transcribed to on-chain language and delivered to the nodes! Thus, the Chainlink protocol increases transparency and improves the reliability and accuracy of the data that enters the blockchain!

The LINK token powers the entire process and acts as the network’s fueling agent. That is, Chainlink nodes are paid in LINK tokens for lending their services in fetching the real-time data into the blockchain. But before that, each node must stake LINK tokens in the network promising to offer accurate services.

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Chainlink continued to trade at $11.45 during January. Surprisingly, the price spiked to $51.17 to hit a new high on May 2nd. When the market collapsed on May 19, the LINK price wiped down from $36.8 to $21. However, post this point, the price has been gradually surging.

It has drawn a lot of attention and attracted new users to their project. The fundamentals look healthy for many analysts. The altcoin has been proactive in launching its products and developments well within time, growing consistently. Partnering with prominent companies like Google Cloud, the LINK price may soar significantly to blow at $37.008 by the year-end.

On the other hand, considering all market sentiments and news playing hide and seek, major setbacks can arise. If any other unforeseen circumstances or competitor coins give a tough road ahead, the altcoin price might plummet to support levels at $15.988.

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LINK Price Predictions for Q4:

If buyers continue to outperform the sellers in the coming days the asset could form its new ATH soon.  However, its recent partnership with Cardano and Avalanche didn’t impact its price action. So, if it fails to leg up to the next levels, then it could settle down to initial support levels between $20 to $24.

However, the LINK price has enjoyed a tremendous rally in October. The price surged by more than 50% rising from $21.43 to $34.34. In contrast, the asset had failed to seek any price moments in November. Woefully, the price has dropped to a below support of $24.82.

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A massive breakout from here would take the price to a maximum of $40.74. The average and minimum possibilities for the altcoin is being $28.58 and $36.74.

If the altcoin closes this year hitting the highs, then 2022 might start bullish at $62.24. On the other hand, if a bearish trap engulfs, then the 2022 trade might resume at a similar trend at $27.08.

If the network boosts the reward levels for its nodes, then it might grab new nodes staking their tokens, leading to a pump in the price. In such a case, by the end of 2022, the LINK price might smash a new high of $111.32. However, being a highly transparent protocol, the average price of its token can hit between $91.32 and $80.005.

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On the flipside, possible data manipulation is being debated by many critics. If the network does not work to improvise this, then the price can bounce down to $78.869.

In 5 years, with more partnerships, a large treasury of reserve funds, and an in-demand service, it seems that the platform is well-poised to handle any challenges that may crop up in time. With new updates in connections to APIs, the utility token can be on cards with a maximum of $318.52 by the end of the next five years.

On the other hand, if the market crashes due to controversies on conventional cryptos and blockchain, following other currencies, LINK may also dip to $126.731. If smart contracts can seamlessly process over the years, then the altcoin might move at an average of $191.99

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1) TradingBeasts :

According to trading beasts, the LINK price may trade around an average price of $152.952. The asset could take a leg up to a maximum of $191.190 by the end of 2021. And by the end of 2024, the price may reach a maximum of  $231.473 and in case of bullish divergence, the altcoin may slide down to $157.402 by 2024. 

2) DigitalCoinprice:

It rates Chainlink as a solid investment with expectations of soaring prices for years to come. Digitalcoin expects that Chainlink (LINK) could be trading at $274.94 at the end of 2021. And the altcoin could leg up to $371.61 by 2022. The website made a whooping prediction for the altcoin in long term, they expect the price to hit $550.34 by 2025.

3) WalletInvestor:

Wallet Investor’s algorithm-based forecast is highly bullish about the future price of Chainlink. They think the LINK price can go up to $260.181 in one year. With average buy and sell pressures the asset could trade around $195.698 and would flip to a minimum of $129.796 by 2021. Based on the current market situation, they project the rate jumping to an average price of  $679.517, in case of bullish divergence of price would plummet to $548.059. With average buy and sell pressures it would claim $617.524 by the end of 2025.

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4) Longforecasts:

As per Longforecasts, the Link price may trade at $36.39 by the end of 2021, and by the end of  2025, the price may rally and cross $150.53.

Chainlink has the inherent capability to expand smart contracts, allowing data accessibility for events, transactions, and going in the same trend. Optimism seems to be catching up with the heat on a long-term price forecast for the platform. According to Coinpedia’s formulated prediction, if the network updates in cryptography and starts new partnerships, the LINK price might beyond crucial resistance $37.00 as the year ends. 

On the flip side, many critics have begun questioning the purpose of LINK tokens in the project. If it persists, and other celebrities indicate a supporting statement, the price might get afflicted and plunge to $16.03.

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Year.Potential High.Potential Low.
2021.$62.008.$26.988
2022.$94.883.$40.869.
2025.$167.46$88.433

2017

LINK was funded with an ICO and managed to raise USD 32 million in September 2017. During its private token sale campaign LINK cost USD 0.09 per token and USD 0.11 during its public sale.

2018

Then in the year 2018, the coin had a nice start doubling from $0.15 to $0.43 per coin. It had several price hikes, which increased the price of the currency to $1.

2019

In June 2019, news broke on Twitter about potential cooperation with Chainlink and Google Cloud. As a result, the price of LINK jumped from $1.19 to $1.93. Later, the coin grew further to $2.24 when it was listed on Coinbase.

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By the time LINK appeared on the exchange, it had reached $4.45. By the end of August, the price of ChainLink had again decreased to $1.61.

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.

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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 percent 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. 

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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.

FAQ

Is Chainlink (LINK) a good investment?

Chainlink might be a good investment if you plan to invest for a long time.
Will Chainlink hit $100 USD?

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For now, though, considering the current Chainlink price, it’s feasible to expect Chainlink to cross $100 USD in 2022
What are Chainlink Oracles?

These are bridges that allow several blockchains to interact with off-chain resources such as market data.
Is Chainlink Worth Investing?

Yes, it is worth investing. Chainlink (LINK) is showing tremendous growth and it’s one of the most prominent cryptocurrencies.

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Chainlink (LINK) Leaves Top 20 Cryptocurrencies by Market Cap: Possible Reasons

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Here’s how Chainlink Marines’ crypto left elite club

LINK, a core digital asset of decentralized oracles network Chainlink, finally left CoinMarketCap’s top 20 of cryptos by capitalization. At the same time, it seems that this is not its fault.

LINK leaves top 20, replaced by ALGO

Today, on December 2, 2021, Chainlink (LINK) sees its LINK token in red: the asset has plummeted 7% in 24 hours. As such, its capitalization drops to $11.6 billion.

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LINK left top-20

Just like Cardano (ADA), LINK token trades down more than 50% from its all-time high registered on May 9, 2021, above $52.

ALGO, a token of high-performance smart contracts platform Algorand, demonstrates an almost  5% dropdown but surpasses Chainlink (LINK) by market capitalization.

Algorand (ALGO) added more than 50% in just three months and entered the top 20 by market capitalization for the first time in its history.

Battles of large caps

At the same time, Chainlink (LINK) leaves the top 20 not only thanks to Algorand (ALGO) but also due to the impressive rallies of other major altcoins.

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In recent days, Terra (LUNA) and Polygon (MATIC) have spiked to new historic highs. The rivalry in the 10-20 zone has become quite savage.

Also, as covered by U.Today earlier today, Cardano’s ADA jumped 15% in no time as the IOHK CEO stressed the advantages of his project’s programming language over Ethereum’s Solidity.

LUNA, a native digital asset of high-performance blockchain Terra, added 60% in one week and surpassed overhyped memetic coin Shiba Inu token.

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