Chainlink Price Index - Real Time Price Graph
Chainlink is a blockchain-based decentralised oracle network that allows smart contracts to external data sources. These can be APIs, internal systems, or any other type of external data feeds. The platform was launched back in 2017 after managing to raise $32 million via an ICO. LINK is the native token of the platform which is used to pay node operators. The growth of the DeFi sector has seen interest in Chainlink peak since smart contracts require accurate information from the outside world to execute agreements. This interest has seen LINK grow over 850% over the past year.
Where to Buy Chainlink?
As a top 20 cryptocurrency, Chainlink is accessible on most cryptocurrency exchanges and crypto brokers that exist today. However, before you jump on any platform to purchase the token, you have to do your due diligence. You should go for platforms that have already established themselves and have a decent reputation over the period they have been operational. This means they have to be highly secure, boosting high liquidity and supporting many payment modes. Below is a list of some reputable platforms where you can access LINK with ease.
A Brief History on the Price of Chainlink
This section will cover some important news about this cryptocurrency project and how it has affected its price over time. LINK began trading at around $0.11 and would peak at $44 two weeks ago. The price has retraced a bit to the $38 level; however, in less than four years since launch, the project has witnessed an ROI of over 24000% thanks to growing use cases and interest from other platforms.
Key News for Chainlink
Chainlink was launched in June 2017 by SmartContract, a for-profit company with the first version of the protocol launched within the same month. In September, Steve Ellis and Sergey Nazarov would publish the platform's first white paper. The founding team also consisted of Ari Juels, who served as an advisor to the company.
In September 2017, Chainlink manages to raise $32 million from crowd sale with the goal of connecting various blockchains to external data, which would expand their capabilities. The project's native token is LINK, with a total supply of 1 billion tokens. However, the crowd sale sees only 35% of the total supply sold to the public for about $0.11 per token.
In October 2018, Web3 Foundation and Chainlink announce plans to work together to improve the Polkadot system. The platform's oracles would be integrated with the Polkadot network as the project moved towards a future of secure smart contracts on a decentralised web. The news is received well within Chainlink's community as the price grows by almost 5x towards the end of the month, managing to trade above $0.50 for the first time.
November 2018 – June 2019
In this period, Chainlink accomplishes several milestones such as;
- Acquiring Town Crier to provide secure smart contact networks
- Partnering with Wanchain to integrate real-world oracle data
- Partners Cornell Researches to offer decentralized oracle solution
- Teams up with Brave New Coin to offer new and improved crypto tools to institutions and enterprises
- Releases new external adapters for AION network and Zilliqa
- Teams up with Celer combining real-world information and layer-2 scaling
- Releases external adapters for cryptocurrency projects Zilliqa and AION
- Partners with Kaiko to bring cryptocurrency market data
- Partners Synthentix to decentralize crypto price feeds
- Integrates with Ocean Protocol to offer decentralised oracle network
- Partners with IOST to help the company in its quest to bring real-world data on-chain for dApp developers
- Teams up with Hedera Hashgraph to provide decentralized oracle network for enterprises
- Launches its mainnet to get data in and out of Ethereum smart contracts
- Collaborates with GoChain to help the company integrate oracles
- The parent company Smart Contract teams up with Google as a blockchain partner
- Partners Google on a blockchain project
- Partners with Oracle to help startups sell their data
- Its token LINK is listed on Coinbase Pro
The events listed above see the price of LINK cross the $1 mark for the first time, and by the end of June, when the token was listed on Coinbase, it would almost quadruple, managing to trade above $3.90 by the last day of June.
July 2019 – July 2020
With this period, Chainlink achieves the following milestone;
- Partners with Stake.fish managing to grow the LINK oracle network
- Teams up with Zilliqa to build a data-driven ecosystem
- Integrates with aelf
- Teams up with Constellation to bring big data to the blockchain
- Partners with Binance for the "next-gen DeFi applications"
- Announces the Chainlink's community advocate program
- Partners with Ontology to provide secure off-chain connections
- Collaborates and integrates with Enigma
- Seals strategic partnership with Conflux
- BetProtocol announces intention to use Chainlink for off-chain eSports data
- Partners with ICON to help bring real-world data to its public chain
- Partners with Ox to bring new DEX functionality to users
- Integrates with bZx to help the platform prevent future price oracle exploits
- Partners with Hdac to help the platform bring decentralized Oracles to its enterprise blockchain
- Reaches a collaborative agreement with Gaimin
- Partners with Cypherium to provide smart contract oracles to global enterprises
- Integrates with Bloom to bridge traditional and decentralized finance
- Announces launch of VRF tool for smart contracts that will help them achieve on-chain randomness
- Partners with Korean tech giant to boost blockchain and mass crypto adoption
- Joins InterWork Alliance to advance the token-based economy
- Begins working with Nasdaq and Microsoft on a framework for token standard
- Partners with the state of Colorado to help create a new lottery game
The price would rise steadily within this period, thanks to continued interest from its growing community as it partnered and acquired new ventures. With the 12 months, LINK would double in price, trading just below $8. This period would also coincide with the rise of the DeFi market, especially in June 2020 after Compound launched its governance token COMP that incentivised individuals to join decentralised exchanges to farm tokens for rewards by providing liquidity. Also, the number of DeFi projects was on the rise, and demand for Chainlink's oracles was growing to feed the many smart contracts with outside data.
July 2020 – August 2020
Here Chainlink would;
- Integrate with Nervous Network to help with off-chain connectivity
- Gets selected by dYdX as its oracle provider for its new market
- Acquire blockchain oracle solution from Cornell University
Thanks to the continued growth of the protocol and demand for its oracles, the price of LINK would see its first significant rally, managing to peak at around $19 by mid-August.
August 2020 – December 2021
- Lands on Bitcoin sidechain RSK with new integration
- Its oracles would be integrated on AdEx as its mainnet went live
- Its oracles would be integrated on Fetch.ai on its mainnet
- Collaborates with Solve.Care to deliver real-world data for blockchain healthcare services
- Partner Synthetix to launch oil derivative token
- Collaborate with AllianceBlock
- See SynLev integrate its price feeds on mainnet to power its leveraged synthetic asset platform
- Bitfinex begins offering its perpetual contracts
- Bitrue integrates its verifiable randomness function (VRF)
- See Dock integrate with the protocol for price credentials services offered in USD
Despite the continued interest and more milestones achieved, the price of LINK would retrace significantly just as it had rallied, losing almost $10 by September 21. The price would bounce back for the remaining period ranging between $9 to $14 for the most part, before ending the year at around $11.
January 2021 – April 2021
- Team up with Blockpass to deliver a new solution to the blockchain ecosystem
- Partner with CyberFi to extract reliable price feeds
- Integrate with Filecoin for advanced decentralized storage solutions
- Get added on eToro
- Integrate with Dusk Network to receive advanced privacy features for the DeFi ecosystem
- Partner Vesper to develop an oracle for total value locked the metric used to measure DeFi health
- And most importantly, the Chainlink 2.0 whitepaper is released, which outlines the adoption of hybrid smart contracts and the future of decentralized oracle networks
The new year would bring new fortunes. You have to realise by now the entire cryptocurrency market was on a bull run. Being a top project, Chainlink was one of the many projects that have witnessed increased interest from investors. Within the period, LINK has managed to grow more than 4x, peaking at around $44 by mid-April.
Compare Chainlink with Fiat Currencies, Commodities, and Crypto
This part will look at how Chainlink and its LINK token compare to fiat currencies, commodities, and other cryptocurrencies. We will try our best to make a logical and straightforward comparison with a detailed explanation that should make the technology behind the project easier to understand to all when compared to some instruments you already know.
Compare Chainlink with Fiat Currencies
Fiat currency is money issued by the government or the central bank, to be more specific. It exists in physical and virtual forms. You can term it as the national currency of a country in which people can pay for goods and services using and even conduct any other form of transaction. On the other hand, LINK is a decentralised cryptocurrency. The first difference between the token and fiat currencies is that the coin isn't issued and controlled by a single entity. Also, unlike fiat currency with no limited supply, LINK has a specific number of coins that will ever exist. This makes it deflationary in nature, meaning its coins gain value with time as demand and interest in the parent platform Chainlink grows. This can't be said for fiat currencies which governments can print at any time as they feel like with adverse consequences. Another key difference is LINK exists only in virtual form.
Compare Chainlink to Gold
Gold is a precious metal that has acted as the store of value over the years since man discovered trade. For many years Gold was the standard for measuring wealth. Initially, it was used for trading via coins before being held by central banks to back fiat currencies. It's a tradable commodity with a developed market that is relatively stable due to established regulations around the market. Gold appears naturally from the ground, and it's a scarce commodity. Also, it's not easily destructible, and this makes it valuable.
On the other hand, coins like LINK are designed with some properties of Gold, such as scarcity, as you have seen in the previous section. The cryptocurrency market has some way to go before getting to the Gold market level, as frameworks to govern the market are required. Also, the token is seen as a store of value, just like Gold, since its value tends to appreciate with time. However, unlike Gold, LINK doesn't exist in physical form.
Compare Chainlink with Bitcoin
Both Bitcoin and LINK are cryptocurrencies. They are decentralised and run on the blockchain but on different protocols. Bitcoin was the first cryptocurrency launched, and the goal was to facilitate peer-to-peer transactions without the need for intermediaries such as banks. Bitcoin is seen as a first-generation blockchain with limited functionality. However, protocols such as Chainlink are advanced blockchains that allow for the running of smart contracts and interacting with other blockchains. While Bitcoin is more of a peer-to-peer payment currency, LINK is a governance token within the Chainlink protocol that offers users a say on how the protocol is governed. The differences are minimal between both since they are all cryptocurrencies, and they share similarities, such as a limited supply of tokens.
Chainlink Future Price Predictions
This section will cover our view and that of various experts on what the price of LINK could be for the rest of the year and the coming year. As you have seen above, there is a lot of activity going on in terms of development and partnerships, which should reflect positively on the price of the token.
Chainlink Price Predictions for 2021
According to trading beasts, LINK price may trade around $100 by the end of the year, which seems reasonably achievable since the price needs to grow by about 120%. If the bull run continues, there is no doubt it could even go higher as per some experts.
It rates Chainlink as a solid investment with expectations of soaring prices for years to come. Digitalcoin expects that Chainlink (LINK) could be trading at $56.36 at the end of 2021. This is a bit conservative, given that the token is already within the $40 range.
Wallet Investor is highly bullish about the future price of Chainlink. They think the LINK may end the year around $65.64. If this is true, then the price needs to add only $20 to achieve this goal which is more than possible.
As per Longforecasts, Link price may trade in between $53.81 to $68.88 by the end of 2021. Again we find this quite conservative given that the price is only a few dollars from this target, and the market is heating up with more investors coming in.
Chainlink Price Predictions for 2022
As for the coming year, many experts expect the price of LINK to continue to rise, building on the momentum of the current price. As Chainlink achieves more milestones and cryptocurrencies continue to be embraced, we should see the price trade as high as $250 by the end of the next year.
Beyond 2022 for Chainlink
WalletInvestor sees the price of LINK jumping to around $194.7 by the end of 2026. Based on this rate, we believe that this might be too conservative but it is difficult to estimate the price of LINK in future as cryptocurrencies experience a lot of volatility. As for Longforecasts, the price of LINK should trade above $200 by the end of 2022. As per TradinngBeasts, the price of LINK may reach the $300 mark by the end of 2024.
Chainlink Price Conclusion
As you have seen above, in less than 4 years, Chainlink has managed to establish itself as the undisputed king of blockchain oracles, and it's serving a great role in expanding the capacities of smart contracts and blockchains. The rise of DeFi has seen an increased interest in this protocol, and with more platforms coming up, the demand for Chainlink will likely only go up as per some experts. Also, the team and community behind the protocol are quite solid and are making major strides via partnerships and integrating additional features. This means we should expect to see this platform continue to grow with time, and this should also be reflected in the price of LINK. Don't be surprised to see the token trading at some of the ranges predicted above.
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Frequently Asked Questions
The right time to invest in this project is yesterday; the other is today. In all seriousness, there is no right time to do it; however, the earlier, the better, and as the project grows, you can get rewarded handsomely.
Those who participated in the ICO and bought LINK tokens for $0.11 have witnessed an ROI of over 24000%, making them rich. That is, if they didn't sell their tokens. However, there are risks involved in investing in cryptocurrencies, and one should do their due diligence.
Currently, one token goes for $38. However, it's possible to buy coins worth even $10. How much you invest will depend on how much you have planned for the activity. You can make small investments and watch your portfolio grow with time.
Before investing in LINK, the first thing you need is to acquire a cryptocurrency wallet where you will store your coins. However, if you plan to use brokers and want to interact with financial instruments attached to the token, there is no need for a wallet.
These are decentralised oracle networks that provide aggregated financial market data that is used by the likes of Aave, Synthetic, and many others.
The Chainlink ecosystem is vast, boasting dApps, node operators, blockchains, data providers, and an extensive research and open source development community.
The Chainlink Network is composed of the highest quality, Sybil-resistant oracle nodes operated by leading DevOps and security teams.
These are entities that maintain and run the blockchain oracles that make up each Chainlink Oracle Network. They provide smart contracts on various blockchain access to external data and resources.