Brief Overview of LINK, an Altcoin
For those who didn’t have a clue prior to stumbling across this article, Chainlink was started in 2014 by Sergey Nazarov and Steve Ellis. It operates a decentralized network of oracles- powered by the Ethereum token, LINK- which enables blockchain transactions. Transactions with Chainlink-LINK tokens require secure hardware and its decentralization is an asset when it comes to reliability.
Why LINK Should Appeal to You
With the economy a mess and the stock market, subsequently, in shambles, more people are turning to cryptocurrencies. Presently, LINK is a decently priced token and is gaining a larger popular following. It is a good starter cryptocurrency that maintains partnerships with Google and Intel. Lately, it is being promoted in parts of Asia like China and South Korea.
Korean payment provider @PayProtocol will integrate #Chainlink Price Feeds to access exchange rates used for crypto payments made across its retail & e-commerce network. Chainlink will also provide asset valuations within their upcoming #DeFi offering. https://t.co/s3fWkNFL3P
— Chainlink – Official Channel (@chainlink) October 27, 2020
Its rise and fall roughly correlates with that of more mainstream cryptocurrencies such as Bitcoin, Litecoin, and Ethereum. In fact, more recently, Chainlink is undergoing integrations with Polkadot, Ethereum, Cosmos, and Matic blockchains.
Just in the last three weekdays, Chainlink has announced ongoing integrations with four different blockchains: @ethereum, @cosmos, @Polkadot & @maticnetwork. Chainlink is becoming the standard oracle across all blockchains, which will bring about a shared cost model across chains
— ⬡ The_Crypto_Oracle ⬡ (@Crypto___Oracle) November 3, 2020
At the time this article was written, 1 LINK = $11.10. I, finally wanting to see for myself what all the fuss was about, made my first LINK purchase on Coinbase in September 2020 when it cost under $10, around a mere $8 or so. I didn’t go all in and wouldn’t recommend anyone do so because of how volatile cryptocurrencies, or any investment these days, can be. On November 6, 1 LINK = $11.92, a slight increase from four days ago. The market is up. All the same, its 2020 price has been below $20 and is sure to remain this way.
But it is predicted to rise in the upcoming years. Different sources have their own assessments for how fast the LINK price will move from year to year and by how much.
For one, crypto-rating.com utilized an AI-enabled algorithm and found that LINK will reach $295.08 by 2025. This is one of the more optimistic outlooks. Walletinvestor.com, based on technical analyses done on various cryptocurrencies, forecasts the LINK price to increase to $20.95, at least, in 2025. I foresee that by the end of 2020, LINK will be at least $11-$12. Mark my words, $15 is unlikely.