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Chainlink Price Prediction: When will LINK Price Reach US$100? What will be its Price by 2026?

Chainlink is making front-page news ever since the DeFi projects or decentralized finance has caught the imagination of investors. LINK, the native coin of the Chainlink network, has already amassed a long following list, which includes industry experts, celebrities, and technology futurists. In terms of market cap, it is among the top 15 cryptocurrencies. 

This altcoin has increased rapidly in 2020 and in 2021 also the upward price momentum is continuing. LINK price has increased by around 567% in 2020. In 2021 YTD (year-to-date), the price of Chainlink currency has increased by over 141%. This altcoin has witnessed an exciting jump in price and is one of the leading most names in the cryptocurrency market. 

As the price of LINK tokens has increased from below US$2 at the beginning of 2020 to around US$30 in just over 1 and ½ years. This means Chainlink’s price has increased by around 15-folds from January 2020 to September 19, 2021. With such an increase in price, will it be a good decision to buy LINK coins now? 

Let’s explore the answer to this question by checking the LINK coin’s basic facts, fundamentals of the project, and Chainlink forecast of price.

What is Chainlink (LINK)?

Chainlink has a unique business model in comparison to other blockchain projects. This project focuses solely on creating smart contracts for others. Their main aim is to decentralize the internet for bridging the gap between blockchains and the apps existing in the real world. Chainlink project was founded by its CEO Sergey Nazarov and CTO Steve Ellis in September 2014. 

A decentralized network of Oracles is present in the Chainlink system. These oracles help smart contracts to interact with off-chain platforms safely. The node operators of Chainlink extract data from off-chain systems and convert them into formats that are compatible with the blockchain. Ethereum-based ERC-20 tokens, LINK coins, are awarded to the node operators as a reward for carrying out their efforts. 

Chainlink’s developers say that LINK price has a close correlation to the number of node operators.

Fundamental Analysis of Chainlink (LINK)

The process of simultaneous data conversion by both Oracle and Chainlink may sound arduous, in reality, it involves just 3 steps:

Step #1: Data is requested by a smart contract when needed.

Step #2: A request is received by the LINK protocol and a Chainlink Service level Agreement is generated.

Step #3: The generated agreement will again generate three other contracts. 

One contract is for reputation. The oracle will be checked and verified by the contract for reputation. The next contract works as a bridge between the request contract as well as the nodes taking the requests. Chainlink Core takes care of the translation of off-chain data to on-chain data and the other way round. 

Firstly, the request is converted to an off-chain form. This is done so that the request can be read by real-time information and then fetch the needed data easily through an API. Once the nodes have the accurate information, they are transcribed further to on-chain language and then delivered to the nodes. In this way, the transparency is increased by the Chainlink protocol, improving the reliability as well as the accuracy of the data entering the blockchain. 

The entire process is powered by the LINK digital asset, which is the fueling agent of the network. For providing their services to fetch the real-time data into the blockchain, the Chainlink nodes are made payments in LINK coins. This is ensured after each of the nodes stake LINK tokens in the network and promises to provide accurate services. 

Chainlink Price Prediction

At the beginning of 2021, the Chainlink price was hovering below US$12 (US$11.87 to be precise, as of Sep 20, 2021). The price started to rise exponentially and reached its ATH at US$52.88 on May 10, 2021. This price rally made the price of LINK to increase by almost 5-folds in just 5-months. However, it couldn’t sustain the ATH and it corrected sharply to US$20 in just over 10 days. 

The market tried to self-correct itself and the LINK price has witnessed a lot of ups and downs since May 2021. In mid-July, the price corrected to below US$14 (US$13.42), and most analysts believe that it reached its bottom. From that point, the price has bounced back significantly and is currently hovering around US$28.73. This means the current price is down by more than -45% from its all-time high price. 

Chainlink Price Forecast 2021

Chainlink project has launched many new products and made lots of developments, thereby growing the network consistently. Some of the prominent partnerships it has done in recent times in with the Google Cloud. In fact, the increasing bouquet of use cases has also attracted lots of new users. 

  • All these factors have increased the excess demand for LINK coins in the market and are likely to push the price of each LINK token to US$37.008 by the end of 2021. 

  • If the network continues the same trend as was seen from January to August 2021, the US$42.44 level is easily achievable. 

  • If an uptrend and faster momentum are witnessed, the LINK price against the US Dollar can reach the US$75.24 level.

  • In case of any unforeseen circumstances or major setbacks, the LINK price may plummet to its strong support level at US$15.988. 

Chainlink Price Forecast 2022

  • If Chainlink’s price closes in 2021 by hitting the highs, we may witness a bullish start in 2022 and the LINK price may reach US$75.24. 

  • If 2021 ends in a bearish mode, 2022 is also likely to resume a similar trend at US$27.08. 

  • In case, the Chainlink network decided to increase the levels of their rewards for their nodes, it is highly likely that more nodes will get added. As there is a direct correlation between the number of nodes and the price of LINK, the price of the token may hit a new high at US$111.32. The average LINK price may hover from US$91.32 to US$80.005. 

  • Some critics say that data manipulation is a possibility in the Chainlink network. If the network doesn’t work on this, then bounce back may not be robust. The price will be restricted to only US$78.869 at the end of 2022. 

Chainlink Price Prediction in the Next 5 Years (till 2025-26)

The Chainlink network is well placed to handle any challenge in the coming years because of:

  • More partnerships
  • Availability of a large reserve fund treasury 
  • In-demand service

If there are new updates to APIs, this utility token is likely to see a significant rise in its price. In the next 5-years, the price can reach as high as 318.52. In case, there is a crash in the overall crypto market, the LINK price may hover around US$126.731. The average price of LINK can be US$191.99 if the smart contracts process over the years seamlessly. 

Final Words

TradingBeasts believes that the price of LINK is likely to become US$24.081 by 2021-end. As per DigitalCoin, the price of each Chainlink coin will be US$32.48 by the end of 2021. TradingBeasts believes that the price of LINK is likely to become US$33.223 by 2024-end. 

WalletInvestor’s analysts and experts believe that in one year’s time (2022), the price of LINK will be trading around US$56.834. By the end of 2026, the price of the project could jump to US$226.161. According to Longforecasts, the price of Chainlink is likely to reach anywhere from US$25.39 to US$31.51 by 2021-end. It may even cross US$51 by mid-2025.

The potential highs and lows in the future are:

  • 2021-end: US$74.008 is the potential high; $26.988 is the potential low.
  • 2022-end: US$105.883 is the potential high; $40.869 is the potential low.
  • 2025-end: US$327.46 is the potential high; $98.433 is the potential low.

Always remember that cryptocurrency investment advice always comes with the risk of loss. As prices of cryptocurrencies are highly volatile, you should be ready to consider the loss aspect too. If you can’t afford to lose money, crypto investment is not for you. Instead invest in fixed income assets. 

To be sure about your investment, always go through the fundamentals, technicals, and price history trends of the Polygon market. Once you are absolutely sure about investing, go through the Polygon network price prediction, and then invest.