Chainlink’s journey from initial concept to fully functioning oracle network has been a challenging one, with its official launch in September 2017 coming three years after the formation of its parent company SmartContract.com.
On September 21st, 2017, however, the network’s patented LINK token was finally released into the marketplace at an initial price of $0.195428.
The LINK price enjoyed modest growth following its launch, reaching $1.188373 by the end of May 2019. On June 1st, however, Chainlink’s mainnet went live on the Ethereum network, enabling the network to start fulfilling its immense potential as a secure and decentralized oracle.
This effectively can connect deterministic blockchains with off-chain datasets and various APIs, bridging the gap between the physical and virtual worlds while allowing for the delivery of entirely intuitive smart contracts in real-time.
As a genuinely game-changing ERC-20 token that’s fully compatible with the Ethereum network, it should come as no surprise that the LINK price has embarked on a mostly steep and upward trajectory over the last 20 months.
To this end, the LINK price managed to break through the $3 barrier at the end of June 2019 before continuing its sharp ascent to an impressive $17.258631 on August 18th last year.
Interestingly, the Chainlink price contracted by as much as 42% in September last year, as part of a broader decline amongst DeFi tokens precipitated by growing macroeconomic and geopolitical anxiety in more traditional markets.
Despite further fluctuations throughout autumn 2020, however, the LINK price has rebounded strongly at the beginning of the New Year. As of February 10th, it had reached a new high of $28.057369, up by 8.4% in the previous 24 hours alone.
What is Chainlink (LINK)?
You can buy, exchange and manage your LINK tokens in the Atomic Wallet, of course, but what’s the history of this coin and the network that it underpins?
The network itself is the brainchild of SmartContract.com, which was launched back in 2014 to revolutionize business contracts across a range of industries and create a demonstrably secure link between private data and public blockchains.
However, this premise initially ran into a significant problem. It was required to use centralized oracles that allowed third parties to retain control over data and created a scenario where smart contracts could be subsequently amended (rendering Chainlink’s on-chain network elements mostly obsolete).
So, SmartContract.com’s CEO Sergey Nazarov sought to resolve this issue by developing his decentralized oracle, with Chainlink finally launching following a lucrative, $32 million ICO in September 2017.
The LINK token is equipped with so-called “transfer and call” functionality, which allows it to be instantly and securely processed by smart contracts as part of individual transactions.
It also drives Node operators’ compensation within the Chainlink network, who work to retrieve data from external sources efficiently and securely. This is pivotal to Chainlink’s decentralized oracle’s functionality, ensuring that such information is transferred securely and remains completely immutable.
LINK Price Chart
Market Prediction for Chainlink (LINK) Price 2021
The above chart highlights the steep upward trajectory of the Chainlink price, with the rate of growth particularly pronounced following the launch of the network’s mainnet in June 2019.
But will this trend continue through 2021, and what impact will the broader economic climate and breaking Chainlink news stories and developments have on the LINK price? Let’s find out.
Coinpedia’s Chainlink Price Prediction 2021
Coinpedia successfully forecast the hike in Chainlink’s price at the beginning of the year, as the asset broke through the $25 barrier on February 6th before reaching its exalted high of $28.057369. Coinpedia predicts that LINK price is likely to rise further in the near-term, particularly as it continues to secure blue-chip partnerships. By the end of the year, this expert forecasts that the coin may peak above $50.
The team at DigitialCoinPrice has made a similar (albeit slightly more modest) Chainlink price prediction for 2021, as they estimate that the LINK token will peak at $41.77 by the end of the year. This hints at a steady price growth of just under 50% during the next 11 months and highlights Chainlink’s value proposition’s relatively stable nature.
While Walletinvestor’s AI-based technical analysis tends to deliver bearish crypto predictions, Chainlink has managed to buck this trend. This expert predicts that the LINK token will achieve a value of $42.343 by the end of 2021, establishing Chainlink as a potentially outstanding long-term investment option.
Gov Capital’s Chainlink Price Prediction 2021
According to Gov Capital, Chainlink will continue to grow in value throughout 2021, potentially reaching a high price of $37.617986 by the end of the year. This LINK price prediction is based on deep learning and a fully customized algorithm, while its comparatively bearish nature is reflected by an average value forecast of $33.006 during the year.
TradingBeast’s Chainlink Price Prediction 2021
We close with the most bearish Chainlink price prediction of all, as TradingBeasts forecasts that the asset will be trading at an average price of just $23.379 by the end of 2021 (a decline of nearly 10% on its current value). However, the maximum price forecast of $29.224 by the end of the year could be a little more accurate, especially given the token’s recent trajectory.
Chainlink Price Prediction 2021
There’s little doubt that the TradingBeast Chainlink price prediction is something of an outlier, with the vast majority of experts forecasting that the asset will achieve a breakout above $35 and potentially push as high as $50 by the end of 2021. Such price predictions are also consistent with the growth rate reported since the beginning of the year, with the LINK price having increased by more than 58% between January 1st and February 10th.
More bullish price predictions also reflect the increased rate of Chainlink adoption amongst a diverse range of blue-chip partners, including Oracle, Google Cloud, and SWIFT. The ground-breaking agreement with SWIFT has been incredibly beneficial by lending credibility to the Chainlink network while reaffirming its ability to transfer large swathes of external data securely through a decentralized oracle.
Chainlink is beginning to deliver on its initial premise while seeing increased adoption rates in lucrative retail and banking sectors. Its partnership with oracle services such as Provable (which was forged in March 2019) is also continuing to drive decentralization throughout the global financial services sector, creating incredible scope for further growth throughout 2021 and beyond.
Chainlink Price Prediction 2025
The immense and growing potential of Chainlink is inarguable, with the apparent consensus for sustained growth also expected to continue through 2025.
Coinpedia has forecast that the LINK price will soar as high as $60 during the first quarter of 2022, for example, while potentially breaking out above $100 by the end of next year. This expert also maintains a bullish outlook through 2025, thanks to Chainlink’s diverse range of partnerships and the network’s vast treasury of reserve funds.
Such factors should drive exponential growth during the next four years, with Chainlink expected to be priced as high as $500 per coin by the end of 2025.
This forecast may also reflect the LINK price USD exchange rate in the future, with the greenback poised for a steep depreciation against the backdrop of ongoing stimulus measures. However, Coinpedia’s LINK price prediction through 2025 is undoubtedly higher than the market average, so it’s essential to keep this in mind as a long-term investor.
A more bearish and conservative outlook is provided by DigitalCoinPrice, which forecasts that the LINK coin price will start 2025 with a valuation of $71.94. By the end of 2025, it’s forecast to trade at an average price of $97.90, although it could easily breach the $100 barrier in, particularly favorable market conditions.
Chainlink Price Prediction Verdict
While predictions about the extent and pace of Chainlink’s price growth vary wildly, there’s no doubt that the asset will continue to appreciate between now and 2025. However, the asset’s undeniable potential for mainstream adoption and exponential price growth makes it an exciting investment option in the long-term, especially if it does begin to trade anywhere near $500 per token during this period.
The most recent Chainlink news has also revealed a further commercial partnership with financial market infrastructure Paxos, as the former continues to claim a larger share of the fast-growing DeFi marketplace. This agreement will see Paxos leverage Chainlink’s unique centralized oracle to make its asset-backed tokens available across the whole of the DeFi market, highlighting its strong on-chain fundamentals and the rising demand that exists for its blockchain functionality.
If the Chainlink price does appreciate at a rate similar to the one forecast by Coinpedia, then now is the ideal time to invest in LINK tokens and store these securely in your Atomic Wallet. You can also use this resource to manage your LINK tokens alongside a broad range of similar cryptocurrencies while exchanging coins conveniently and in real-time through a single interface.
How to Buy Chainlink
As we’ve already touched on, Chainlink’s native LINK token can now be purchased in several cryptocurrency exchanges, although it isn’t currently available to buy in the Atomic Wallet.
This is because LINK cannot be acquired on any exchange that takes fiat currencies at this time, although this could well change in the near-term.
However, once you’ve identified the exchanges that do sell LINK tokens at the most viable and competitive rates, you can transfer these coins straight into your Atomic Wallet and manage these effectively as part of a far broader cryptocurrency portfolio.
You can store your LINK coins alongside more than 300 alternative tokens through the Atomic Wallet, including Bitcoin, Ripple, Litecoin, and Ethereum.
You can also use the Atomic Wallet platform to monitor the LINK price in real-time, alongside the exchange’s full range of tokens. It’s also possible to view the 24-hour price change and real-time trading volumes, making it easier to make more informed decisions when managing your wallet.
How to Exchange Chainlink
We’ve already confirmed that you can’t buy LINK tokens through the Atomic Wallet while staking (which enables you to earn a return on specific coins by delegating stored tokens to validators who approve transactions) is also unavailable for this asset.
However, you can exchange your LINK tokens for up to 300 alternative tokens through the wallet, often at a highly competitive real-time rate. The sheer number of exchange pairs is imposing, enabling you to achieve optimal value when you look to trade new tokens within your portfolio.
You can also thank Atomic Wallet’s comprehensive back-end system for delivering accurate price data in real-time, as this aggregates information from numerous trusted sources before delivering this to end-users. Interestingly, Atomic Wallet may be about to add the LINK oracle as one of its trusted data sources, allowing for even more secure and favorable exchanges in the future.
The Atomic Wallet also boasts a membership program, which is founded on its own native AWC token. You can buy into this scheme as a Blue member with a minimum investment of 100 AWC coins before exchanging this with BNB or Binance Dex.
Then, you can carry out exchanges with any viable asset in the Atomic Wallet. At the same time, those of you who are willing to procure a minimum of 1,000 AWC tokens will automatically qualify for Platinum membership.