According to our current Chainlink price prediction, the value of Chainlink is predicted to rise by 0.71% and reach $ 6.79 by January 22, 2023. According to our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 51 (Neutral). Chainlink recorded 17/30 (57%) green days with 5.62% price volatility over the last 30 days. Based on our Chainlink forecast, it’s now a bad time to buy Chainlink.
According to our current Chainlink price prediction, the value of Chainlink is predicted to rise by 6.49% and reach $ 6.37 by January 1, 2023. According to our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 27 (Fear). Chainlink recorded 12/30 (40%) green days with 8.78% price volatility over the last 30 days. Based on our Chainlink forecast, it’s now a bad time to buy Chainlink.
According to our current LINK price prediction, the value of LINK is predicted to drop by -3.23% and reach $ 21.67 by December 17, 2022. According to our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 27 (Fear). LINK recorded 12/30 (40%) green days with 9.18% price volatility over the last 30 days. Based on our LINK forecast, it’s now a bad time to buy LINK.
Since the 2017 release of Chainlink’s whitepaper and the mainnet launch in 2019, Chainlink has made several important accomplishments. Here is a brief overview of highlights from Chainlink’s history:
On September 2017, the Chainlink whitepaper got published by co-authors Sergey Nazarov and Steve Ellis.
September 2017 – The sale of LINK tokens starts, with 35% of the total supply reserved for early investors.
On November 2018, Chainlink acquired Town Crier- an oracle service connecting Ethereum and HTTPS sources.
On May 2019, the Chainlink mainnet was launched online.
On April 2021, the project’s second whitepaper was published. The paper is called Chainlink 2.0: Next Steps in the Evolution of Decentralized Oracle Networks
In June 2022, Chainlink will announce their new LINK staking plan to incentivize blockchain node operators. This added security measure will help protect the platform from future attacks.
The market of Chainlink has mostly mirrored the high volatility of the crypto market and the parabolic growth of the project’s native crypto asset. The market value of LINK places the crypto asset among the largest digital assets by market capitalization.
Here’s what the historical LINK price charts tell us about the crypto’s most notable market cap milestones:
- $200 million – LINK’s market cap soared past $200 million in January 2018, mere months after the token first started trading
- $500 million – In June 2019, the market cap of LINK reached $500 million
- $1 billion – Chainlink reached unicorn status at the end of June 2019
- $10 billion – The market cap of Chainlink increased beyond the $10 billion mark for the first time in February 2021
- $20 billion – LINK’s market cap surpassed $20 billion in May 2021
The project’s native token, called Chainlink (LINK), was initially made available to ICO investors in September 2017 at a price of $0.09 per token. Between the presale and the subsequent public sale, 350,000,000 LINK were distributed to early investors in total.
According to our Chainlink price data, the token initially started changing hands at roughly $0.20. The LINK token’s price quickly increased in subsequent months and went on to break the $50 milestone roughly three years after the initial launch on cryptocurrency exchanges. Historically, LINK has been one of the best-performing crypto assets in the cryptocurrency market.
Here is what the historical LINK price data tells us about key milestones in the token’s price history:
- $0.09 – LINK coin’s price at the time of the ICO sale in 2017 was $ 0.09 per token
- $1 – The price of Chainlink surpassed $1 for the first time in early January 2018
- $5 – Chainlink’s price rallied beyond $5 in July 2020
- $10 – The price of LINK surged past $10 for the first time in August 2020
- $20 – Chainlink coin’s price reached the $20 price milestone in January 2021
- $50 – Our Chainlink price chart shows that LINK first surpassed the $50 mark in May 2021
For a glimpse into LINK’s potential future price movements in addition to the Chainlink live price, you can follow our algorithmically generated Chainlink price predictions that take into account LINK’s current price and a number of market indicators, including Fear & Greed Index, market sentiment, overall volatility, and more. You can also check the up-to-date market rate of 1 LINK to USD via our handy crypto-to-fiat and crypto-to-crypto conversion feature.
Chainlink is an Ethereum-based decentralized oracle network that connects blockchain smart contracts to real-world data inputs from external sources. It can verify whether the contract’s parameters are being met based on a wide range of events scores, payments, etc. This allows for trustless verification between the off-chain and on-chain worlds.
Below are some key facts to know about Chainlink and its main blockchain features:
Chainlink is a blockchain-powered oracle platform that connects smart contracts with real-world off-chain data.
Chainlink provides the ability to develop decentralized oracle systems which can act as inputs and outputs for smart contracts.
The project’s mainnet launched in 2019, two years after Sergey Nazarov and Steve Ellis first came up with the decentralized oracle network.
Out of the total LINK supply, 35% was distributed through the Chainlink token sale. Initially, each LINK cost about $0.09.
In 2022, the Chainlink team announced their plans for “Economics 2.0“, a set of goals designed to improve the ecosystem. One of the key features of this plan was LINK staking, which allows users to earn rewards for holding onto their tokens.
Chainlink allows you to connect smart contracts with decentralized trusted notes, which can be used to automatically serve real-world data. With Chainlink automation, smart contracts can act on this data without any outside intervention.
Chainlink’s aim is to be the solution for the “oracle problem” for smart contract-enabled blockchains, such as Ethereum. With smart contracts, you can run code in a decentralized and trustless way when predetermined conditions are met.
However, a problem occurs when smart contracts have to make use of real-world data. The execution of the smart contract may be decentralized and trustless, but the feeding “oracles” can easily be manipulated or otherwise untrustworthy.
Chainlink operates decentralized oracle networks to provide inputs and outputs for smart contracts. These networks include multiple independent nodes, a way to collect data agreement amongst those nodes, and external adaptors with access to APIs.
The LINK token is an ERC-677 standard token that runs on the Ethereum platform. It has all the features of an ERC-20 token, plus some additional ones. LINK tokens are used to compensate node operators, who also use them as collateral. If they submit bad data, they lose their LINK tokens. In 2022, staking was added as another way to earn rewards from holding the LINK token.
The idea for the decentralized oracle network was first proposed in a 2017 white paper by Sergey Nazarov, Steve Ellis, and Ari Juels. The same year saw the start of the Initial Coin Offering (ICO) for LINK tokens -the project’s native currency- with a hard cap at $32 million.
A year after Chainlink’s integration with Town Crier, a blockchain oracle service connecting Ethereum to HTTPS-using web pages has completed.
Chainlink launched in 2019 as a smart contract-servicing network. In 2020, Chainlink integrated with DECO, a zero-knowledge-proof protocol co-developed by Cornell University and Juel. The ZKP technology allows oracles to prove whether the information is correct without having to reveal it at any point.
In 2021, a second Chainlink whitepaper was published – called Chainlink 2.0: Next Steps in the Evolution of Decentralized Oracle Networks – which delved into the function of decentralized oracle networks, hybrid smart contracts, and on-chain/off-chain connecting services.