Chainlink (LINK) Price
Market cap Is a current price multiplied by the coin's current circulating supply.
Volume (24 hours) The total dollar value of all transactions over the past 24 hours.
Circulating supply The amount of the cryptocurrency that is currently liquid and in circulation.
High (24 hours) The highest price paid for the coin in past 24 hours.
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What is Chainlink
Chainlink is a decentralized informational provider. It is a blockchain-based service that is designed for searching information required for different Ethereum-based smart contracts. Smart contracts can’t look for information on the web for themselves, so they need someone to find that. For example, there is a betting contract for a football match between Real Madrid and Barcelona. The contract can’t just open a newsfeed and see the result of the match. And this is the point where Chainlink proves to be useful — several blockchain participants fulfill the request and send the result back to the system. The blockchain algorithm gets the consensus result and sends it to the smart contract platform, so the contract may be executed.
Chainlink project aims at providing quality intermediary service. The development team is the USA’s fintech company SmartContract — it is much into cryptography, blockchain and decentralized services that connect different platforms. On the technical side of the question, they use up-to-date technologies. For example, the Chainlink platform sends information using SWIFT, a secured messaging system developed for banks. There is also a reputation system inside the blockchain — it helps to maintain providing correct information.
Participants are offered a reward for their work. The reward is counted in LINK, the Chainlink’s native token. Its purpose is to serve as a part of the reward system of the blockchain.
All in all, the Chainlink project is a curious blockchain-to-blockchain service. It is quite a unique concept, also called an ‘oracle system’ – according to ancient Greece’s history, oracles are people who know everything and can predict the future. The team behind Chainlink is planning to develop the project further and apply more features and functions. They are also planning to improve the security and speed of the platform making it more friendly and convenient.
Although LINK is a utility token, it has performed extremely well since its announcement in June 2017. It started at a rate of $0,18 in September and then took a strong bullrun. It ended on January the 8th 2018 when the price per token reached $1,48. This means that Chainlink got 823% gain in the first 6 months of the lifespan.
After that, LINK lost most of its value and went into a deep fall. The rest of the year 2018 was the period of the sideways trading for LINK. The price fluctuated between $0,69 and $0,2.
The most interesting part of the LINK’s story was in 2019. It was the year of the big pump for the project. The token cost was $0,29 on the 1st of January and then soared to the all-time high of $4,54 on June 29. This time the gain was even higher — 1566% in 6 months.
After such an impressive peak, LINK went a bit bearish and entered a sideways till the moment of this article creation in December 2019.
The current LINK price as of this writing is $1,84. The ROI is still over 1000% if calculated from the point of the token’s release. Chainlink has a current market cap of $643 217 536 which is equal to 94 011 BTC — it is the 17th highest result in the CoinMarketCap’s rating. Another impressive figure is the daily trading volume — $129 918 633. The supply in current circulation is 350 million tokens, the overall total possible supply is determined to be 1 billion tokens.
Without any doubt, Chainlink is a project with curious positions. It has an interesting concept of the service and a strong tech team behind the curtains. As a result, the platform turned out to be one of the most popular crypto projects nowadays, reaching high positions on the market.
No surprise that most LINK price predictions are highly positive and optimistic. For example:
- Walletinvestor crypto predictions portal makes a forecast saying LINK will grow even higher and reach $4,7 by the end of 2020.
- Crypto Rating portal predicts an even brighter future for this token — according to their forecast, LINK will cost over $6 in December 2020.
- Captainaltcoin is a bit more modest in their predictions: they say that LINK will reach the price of $2 in 2020.
We can’t give any specific financial advice, but Chainlink is a project definitely worth noticing and considering as an investment option.
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