Chainlink’s network of “oracles” is an intermediate software that connects smart contracts on the blockchain with the outside world. It is thanks to this project that smart contracts can be implemented and become a full-fledged alternative to traditional written contracts.
A LINK token was created for Chainlink network operation. To ensure this, Ethereum blockchain was selected. Yes, LINK is an ERC20 token. The logic of the project gives reason to believe that it will remain so. And this is absolutely justified, because Chainlink is not the usual blockchain platform. LINK crypto is used for settlements between users and payment of commission fees. Note that parties of smart contracts are not required to use the company’s cryptocurrency for settlements. Chainlink makes it possible to use even fiat currencies.
Those who wants to trade LINK have a wide choice for it. Most trading volumes are at Binance, Huobi, and OKEx. You can also buy the crypto at Mercatox, Gate.io, Bitrue, CoinPlace, COSS, Kyber Network, and some other exchanges. If you want to catch the most attractive price, buy the coin on Binance. More than 65% of trading volumes are concentrated there.
On September 19, 2018, the coin was also listed on Bithumb. It amounts for about 10% of volumes.
Like all altcoins, Chainlink has been suffering from price decrease since the beginning of 2018.
September 19, 2018, the crypto showed good growth, but it was only a situational pump caused by the listing on Bithumb. But, on the other hand, the build-up of volumes against the background of news about the listing indicates the interest of the community in the crypto.
There are a number of factors on which the further price of this cryptographic currency will depend.
- The project is functioning and is in demand. In January 2019, Binance added four Chainlink/stablecoin pairs, namely with USDT, TUSD, PAX, and USDC.
- The project is relevant today and will remain relevant for a long time.
- The coin has already shown good stability.
- The project cooperates with the banking system and allows the use of fiat.
- Bearish trends in the cryptocurrency market.
- The emergence of competitors.
- Slowdown in the development of the project.
We believe that the coin has all the reasons for further growth.
How Much Will LINK Coin Cost in 2019 and 2020?
This is one of the few altcoins that have shown their worth against the background of the falling market in 2018. While the majority of alts lost more than 90% of their price (ATH), Chainlink stopped at around 80% and shows a spectacular example of reversal dynamics.
An optimistic, but quite achievable goal for Chainlink’s price in 2019 is $0.6. But the main progress is expected in 2020, when it will be possible to sum up the results of technological innovations from the project team.
Disclaimer: We analyze projects, their advantages and disadvantages and draw subjective conclusions. Our forecast is our estimate and cannot serve as a guide for financial investments.