This article was last updated on August 8, 2022
Chainlink is a popular crypto network, which aims to build and use a decentralized oracle network (DON) for smart contract purposes. Because the utility of the ecosystem is so important, many look to invest in the native cryptocurrency of Chainlink called LINK. Some investors enjoy looking up speculations such as price predictions, forecasts, etc. about networks like Chainlink.
This is exactly what we will be focusing on in this article. However, before that, we will be going through the basics of the network. Most importantly, we will discuss how it works, what is special about it, the network’s token utility, and more.
If you are a beginner in the crypto world, we suggest going through our dedicated Crypto For Beginners article. We explain the most important segments to establish a fundamental understanding of the industry.
Without further ado, let’s go over Chainlink and how it works before we get to the price prediction.
Over the past week, the price of Chainlink (LINK) remained around $8.46. The circulation supply is 469 million tokens. The market cap went up to $3.972 billion.
How To Buy Chainlink (LINK) – Summary
You can become an owner of LINK in a couple of simple steps:
- Find a crypto exchange that lists LINK.
- Create an account.
- Fund account.
- Buy LINK.
- (Optional) Transfer LINK to an external crypto wallet.
If you are looking for a more extensive guide, we’ve got one ready for you below.
Table Of Contents
About Chainlink & How It Works
Chainlink is a decentralized network used as an “abstraction” layer connecting smart contracts. This happens through the use of Oracles, which we will discuss in a moment. The network is based on Ethereum and is secured by the consensus algorithm proof-of-stake (PoS).
We can consider that Chainlink is looking to essentially replace middlemen globally through advanced smart contracts. This happens due to the way oracles take off-chain data and “translate” it so the blockchain can understand and use it.
Many consider Chainlink as the leader in smart contracts, and they do so rightfully.
Other than that, we will not get into the more complicated details about the network. Instead, we will explain what oracles and node operators are and do for the ecosystem.
Oracles
An oracle is a software that acts as a mediator between the real world and smart contracts. This works both ways. Oracles can receive data from the real world and then send it to a smart contract, while also being able to receive data from a smart contract and send it to the real world. This happens completely safe and secure.
The reason this is useful is that you can create smart contracts that consider data from the real world. What’s even more, it doesn’t need to be from the real world, it can be from another blockchain.
With that being said, Chainlink uses a whole network of oracles to ensure decentralization of the network.
Node Operators
Node operators work within the oracle network to ensure and provide data to the network, which can then be used within smart contracts.
These node operators are people who stake/lock their LINK in order to be providers of off-chain data. Some might ask “Why would you lock in your assets to provide data to the network and be useful?”. Well, it’s actually quite simple.
If a node operator was to provide false data to the network and it was proven so, the staked assets are taken away as a punishment for being a bad actor. This can happen when the network uses multiple nodes and sources to validate data. If the majority provides a certain data and there is one that provides a different data, then further validation is required.
You can still register a node with 0 LINK as a stake, but you won’t be participating in requests that require one of the parties to make a deposit.
Node operators are being paid for the information they provide, thus incentivizing them to proceed to do so.
LINK Token Utility
Chainlink’s native cryptocurrency – LINK – is an ERC-20 token. The token itself has a couple of main functions. First of all, the network uses it as an incentive to motivate node operators by rewarding them with a small amount for each transaction. Not only that but also when they retrieve data from external sources and format it to a readable by the blockchain data.
However, Chainlink Node owners can also decide on their price, depending on the volume and requests they have. Additionally, if the data a “customer” is looking for is not as accessible, the price can go even higher.
LINK owners are not particularly happy with the lack of utility of the token. However, the focus of the developers is mainly on expanding the horizon of the network.
Such a model of LINK token use has raised some arguments about the utility of the token. Some commentators say other cryptocurrencies are better suited to pay operators.
Price History & All-Time High
The price history of a cryptocurrency is just as important as it is for any other type of asset. This allows you to understand its price evaluation, as well as what to expect. Not only that, but you will also know when the price is low enough to buy, or high enough to sell.
In this section, we will explore the price history of the token, as well as its performance. This will naturally transition to our price prediction/forecast section for Chainlink.
2017 – 2020
Upon launch, in September 2017, the price of LINK was $0.13. In only a couple of months, the price went up 10x, reaching $1.37. However, that was only a spike, which led to a drop.
The price went sideways up around $0.45 until May of 2019. That is when the first bull run for LINK started. It first hit $3.50, but that was only the beginning. After a month of moving sideways, the price spiked and reached $19.10 in August.
2019 finished off with a price evaluation for LINK at $11.85.
2021
As we all know, 2021 was the year of the crypto industry. This directly affected almost every cryptocurrency on the market – LINK included.
The moment 2021 began is when the second bull run for LINK started. It didn’t stop until May when it reached an all-time high of $52.20, which is a 5x in only 5 months.
Of course, we all know about the crypto crash that began at the end of May. That led to LINK losing over 75% in value, dropping down to $13.78. Crypto enthusiasts saw the “discount” and decided to invest in LINK, which brought the price back up to $34.84 for a couple of months.
However, another dip followed in December, leading to LINK finishing the year off with a price evaluation of $23.54.
2022
As you might know, the year 2022 is not easy for the crypto market. There’s a lot going on around the world which is affecting the prices. However, there is more crypto adoption than ever, which leads us to believe there’s gonna be a massive bull run sometime soon.
The negative effects of 2022 directly hit LINK, proceeding its bull run from the end of 2021. Currently, the price of LINK is around $14-$15, which is equivalent to what it reached back in 2020.
As for the future, we will be exploring the possibilities in our price prediction section below.
Price Prediction For Chainlink (LINK) – 2022, 2025 & 2030
We finally get to the most important section of the article – our Chainlink price predictions for 2022, 2025, and 2030. As we always do, we will be going through both the best and worst-case scenarios, while also keeping it as realistic as possible. A quick disclaimer before we begin – these are mostly speculative price forecasts.
Of course, the prediction for 2022 is going to be more accurate than the one for 2025 and 2030. However, there are still lots of events that can occur, similar to the military escalations in eastern Europe. Because of this, we can never e sure about predictions, so take these with a grain of salt.
2022
As of April 2022, the price of Chainlink is around $13-$15. As we already know, this is not a good evaluation for Chainlink. However, it is understandable why it is so low – because of the current crypto market crash. Right now, most cryptocurrencies have lower evaluation than they deserve.
We refer to this price as a “discount” for obvious reasons. Once the market starts regaining losses, the price will naturally go up for Chainlink.
Currently, the network as a whole is going stronger than ever, with more than 21,000 node operators. The platform’s been expanding its horizon and establishing new partnerships on the regular. This is why we believe LINK is currently an undervalued token.
By looking at the price history of the token and the trends in the crypto market right now, we can easily predict the realistic best and worst-case scenarios.
Best Case Scenario
We hope to see the military conflicts in Europe be resolved by the end of 2022. If that happens, it will be the best-case scenario for the crypto market.
In a bull run, we usually see the price of already established tokens go up from 2x to 5x in some cases. If we take that rule for granted, we can easily see the price of LINK go from $30 up to $70.
To stay realistic and conservative, we think LINK will be evaluated at around $40 by the end of 2022.
Worst Case Scenario
If the military conflicts do not subside, things might remain stagnant. For this reason, our price forecast for Chainlink is a bit darker.
There are two things that can happen right now. Either the conflicts get more intense, or the conflicts remain as it is.
If things escalate, we will see the market dipping even further. In that case, we can see LINK going for under $8 by the end of 2022.
On the other hand, if things remain the same and people start forgetting about the conflict, we will either see the price remain at around $15 or see it move by 10-20% in either direction.
2025
Although we believe that our 2022 Chainlink price prediction is somewhat accurate, things get more complicated as move further into the future. First of all 2025 is three years away. In only 3 months, most cryptocurrencies lost 50% of their value, putting things in perspective.
For further clarification, three years ago the price of LINK was only $0.50. With the current price of around $15, this is a 30x increase.
However, we will look at some stats and speculate over events to help us reach a “realistic” price prediction for Chainlink.
Best Case Scenario
Of course, all kinds of events can appear, whether they be political, environmental, technological, etc. For the sake of keeping this realistic and somewhat predictable, we will assume that the world proceeds to adopt cryptocurrencies.
In 2021 we saw enormous adoption of tokens, which continues today. Even if the adoption proceeds at this rate, we think there won’t be a second coming of the “2021 crypto phenomenon”.
For the next three years, our price forecast for a project like a Chainlink is a 5x-10x increase. By doing some quick maths we can expect a price anywhere between $75 and $150.
Worst Case Scenario
We won’t be looking at any global events for our worst-case scenario. Instead, we will focus on the internal side of Chainlink. This includes the CEO, developers, security of the network, etc.
In many cases, when the CEO of a project resigns, the price drops. If the current development team steps away from the project, the same can happen. Or, in the rare case of a breach, the project’s reputation is affected.
If any of these happen and the crypto market proceeds with its bear tendencies, we can expect a 60-80% price drop. Following those percentages, we conclude that LINK will be going for around $3-$5 by the end of 2025.
2030
If 2025 was a tough guess, then 2030 is an even tougher one. Of course, we are getting into the more speculative space, so things are getting riskier. Take all of this with a grain of salt, although we will look to remain conservative.
Although we believe that crypto is the future, there’s also a chance that we see massive regulations. If that happens, we might experience the biggest crypto crash ever.
On the other hand, if countries start implementing and using cryptocurrencies and crypto networks to their advantage, we can assume a whole another situation.
Best Case Scenario
If we see cryptocurrencies and networks get more adoption, the whole market will be bullish. In a future where fiat and crypto work hand in hand, people will definitely benefit.
The more attention is brought to crypto, the better for all cryptocurrencies. This includes the price of LINK.
In our price prediction articles, we prefer remaining realistic and conservative, so we will do that for 2030 for Chainlink as well.
We can expect to see the price of Chainlink be around $200, although many believe it will be closer to $500. Although our guess is conservative, we believe the price will be somewhere in the middle. However, it’s more likely to be closer to $200.
Worst Case Scenario
In the worst-case scenario where crypto gets completely regulated or banned (which is highly unlikely), we believe Chainlink and other projects will completely lose their value.
However, there’s also a possibility that another competitor arises for Chainlink, pushing the project aside.
If either of these happens, we can see Chainlink going for around less than $1. Yet, if we want to remain realistic, we believe the case for Chainlink will most likely be it going bullish at around $200 than completely crashing. Only the future will tell.
How To Buy Chainlink (LINK) – In-depth
Buying cryptocurrencies is easier than it once was. You just need to take a couple of steps before you become an owner of Chainlink (LINK). In this extensive guide, we kept things simple, making it easy to follow our instructions.
- Find a crypto exchange platform (CEX).
The first step to buying LINK is to find a crypto exchange platform that has the token listed. Since Chainlink is a popular network, you can buy it almost anywhere. Most of the major crypto exchange platforms that offer LINK are Binance, eToro, KuCoin, Coinbase, etc. - Create an account with the CEX.
Once you choose the CEX you want to buy LINK from, you must create an account. Although the initial phase is easy, you will also need to verify your identity. This process can take up to 5 business days and requires you to provide the platform with documents. These documents can include a photo of your ID, utility bills, etc. - Fund your account.
After the platform verifies your account you are free to trade. However, we suggest adding funds to your account before purchasing LINK. This is because it takes less time if you have pre-deposited funds, in contrast to buying LINK directly. To fund the account you will simply need to link your card and make a deposit. - Buy LINK.
Open the CEX’s platform and go to the market section. Search for LINK and click on the appropriate option. Most CEXs have a “Buy” button, while others have a “Trade/Swap” button. Enter the amount of LINK you wish to buy, or enter the amount of fiat you wish to exchange for LINK. Confirm the transaction and you will become a proud owner of LINK. - (Optional) Transfer LINK to an external crypto wallet.
This is an optional step that will ensure the security of your LINK tokens. Platforms can easily freeze your wallets and accounts, making them inaccessible/non-interactable. As such, some users have external crypto wallets such as MetaMask, to which they transfer crypto assets. That’s because such wallets are safer and cannot be blocked as easily. With that being said, the most secure option is a hardware wallet such as Trezor.
How To Buy Chainlink (LINK) – eToro
If you are looking for an easy way to purchase any crypto, eToro is the way to go. They have a wide range of token options for you to choose from. In this guide, we will instruct you on how to buy LINK on eToro, especially useful if you believe in our Chainlink price prediction/forecast:
- Create Your Account.
To start off, you will need an eToro account. It is quite simple to create one. You will need to provide them with personal documents proving your identity. However, it will take up to a couple of days for the dedicated department to verify your identity. Once that’s done, you will be allowed to trade on the platform. - Link a Card.
Before you make any trades, you will need to link your card to use it directly. Linking your cards is better than using them directly for a couple of different reasons. The first one is speed – your transactions will happen faster and you won’t need to add any further card data. The second one is convenience and fast transaction times. - Add Funds.
Now that you have your card linked, you can add funds to your account. Having funds ready ensures lightning-fast transactions, meaning there will be little slippage. In contrast, if you were to use a direct payment with your card, the price at which you purchase LINK will be different than the one you saw beforehand. - Buy LINK.
Once your account is funded, you can easily trade fiat currency for LINK. However, you can also choose the amount of LINK you wish to purchase and save some fiat for other tokens. After choosing the amount of LINK you will need to confirm the transaction. Doing so will take your fiat and add LINK to your native eToro wallet and portfolio.
Conclusion
In conclusion, the Chainlink crypto network is a unique project with great potential. It has the ability to connect blockchains and traditional systems, which opens up a whole new world of possibilities. The team behind Chainlink is also very strong, with a lot of experience in the industry.
We believe that Chainlink has what it takes to become an even bigger player in the crypto space. And that’s not only our belief, it is simply a projection of the team’s hard work and finding of niche.
Although there are no certainties in the crypto space, there are networks like Chainlink that have a higher chance of succeeding and remaining on top.
We made sure to remain conservative with our price prediction/forecast for Chainlink. That’s quite important in a space that is highly volatile because most of the 100x predictions are way off.
Keeping an eye on the development of Chainlink is quite important for both investors and enthusiasts. This is why we will keep this article updated with any news about the project.
