Chainlink (LINK) is considered one of the pillars of the decentralized finance (DeFi) ecosystem. This blockchain that provides oracles for dApps could see some considerable growth in the near future. Considering its close relation to DeFi, a thorough Chainlink price prediction should help you broaden your range of vision regarding the future price movements of this popular cryptocurrency.
Factors That Influence Chainlink Price
Chainlink is a fundamentally-sound cryptocurrency that provides invaluable services to other blockchain projects in the DeFi space. Its oracles are essential to price discovery and help translate real-world data to useful information on various dApps, such as lending platforms or decentralized exchanges. It allows blockchain to interact with each other and requires them to own LINK tokens to do so.
So, Chainlink's price growth is first and foremost tied to demand in the DeFi sector. As more and more dApps appear in this ecosystem and require LINK tokens to use the Chainlink network, the price should go up considerably.
Moreover, Chainlink has a limited maximum supply of 1 billion tokens. This programmed scarcity should also play a crucial role in the supply and demand that will impact the price. With time, fewer tokens will be available on the market, increasing their value.
Chainlink's Price History
Released in 2017, Chainlink experienced its first bull run in 2018, when it reached its first significant all-time high. The price went from $0.13 to $1.37, registering an x10 growth in less than 6 months (from September 2017 to January 2018). However, when the market crashed, Chainlink followed and the price reached a low point of $0.16 in June 2018.
That being said, LINK tokens have since been in constant growth. Chainlink was one of the best performers during the 2018-2109 bear market, where it registered +2000% growth, reaching a peak of $3.6 per LINK token.
Going forward in 2020, the price continued its growth, reaching $4 right before the COVID19 crash in March 2020. At that point, Chainlink's price retraced to $1.8 per token, registering 55% losses, which was in line with what the rest of the market was experiencing during that period.
The price trend returned to the upside, and Chainlink recovered all of its lost value by the beginning of June 2020. During the "DeFi Summer" of 2020, LINK outperformed most coins, as the price skyrocketed to an eye-watering $19 per token. Then, it went down to the $11 mark, where it managed to close the 2020 year in the green with more than 500% gains.
To access real-time price changes for Chainlink, visit Godex.io. It is convenient to monitor the latest market trends with its live charts.
Chainlink Price Prediction 2021
The price of Chainlink tokens entered an exponential growth period at the beginning of 2021. By May 2021, a single LINK token was worth over $50, multiplying investors' capital by 5 in just 5 months.
That said, the price crashed once again, and by July, LINK tokens were trading at around $13, wiping most of the profits from investors' portfolios. Since that period, LINK has returned above the $20 mark and has been trading between $25 and $35 in September-December 2021.
In the current crypto environment, we can see Chainlink's price following the rest of the market and possibly reaching $25 by the end of 2021.
Future Price of Chainlink in 2022-2030
Chainlink has already proven that it remains quite stable in price and can hold its ground even when the market is erratic. Considering the growth of DeFi in the past couple of years, we can only see LINK getting even more useful in the upcoming future. This should keep price dips in check and provide constant growth for the blockchain oracle platform. Let's explore some experts' thoughts on the matter.
Walletinvestor gives quite a positive forecast for Chainlink, placing it at $34 by the end of 2022 and at $99 in 2026. CaptainAltcoin's Chainlink price prediction 2030 is record-breaking $236 per token, confirming the bullish sentiment with most analysts.
To Sum Up
Chainlink is a great project that can contribute considerably to the growth of the DeFi ecosystem as a whole. Its LINK crypto can be a great long-term investment, as not many other blockchains compete on the same grounds. It has one of the most unique offerings out there, which should ensure a bright future for this utility-driven crypto.
