Chainlink (LINK) Price Prediction • Benzinga Crypto – Benzinga


Decided you want in on the action? You can buy Chainlink on Coinbase, eToro and Crypto.com.

As the cryptocurrency market picks up steam, Chainlink (LINK) has caught the attention of a growing number of enthusiasts. Leading the altcoin market with a series of gains, this off-chain data provider has the potential to shock investors and the world, once again.

While the direction of the crypto market is notoriously difficult to foresee, there remains no shortage of predictions concerning Chainlink’s future. And with incredible altcoin gains being realized nearly everyday, investors are asking one increasingly important question: How high can Chainlink go? 

Utilizing decentralized Oracle networks, Chainlink is among the 1st crypto projects to integrate off-chain data into smart contract platforms. Allowing blockchains to interact with external data feeds, Chainlink is technically an abstraction layer enabling universally connected smart contracts.

Founded in 2017, Chainlink is driven by a large open source community focused on decentralized participation. With a fantastic array of contributors and partners, Chainlink has become a trusted leader in the data processing field.

Chainlink is the 13th largest cryptocurrency by market cap. But at the current rate the token is rising, its ranking may change in the near term. Having gained over 6% in the past week alone, Chainlink sits within flipping distance of both Terra (LUNA) and Uniswap (UNI).

With a circulating supply of 452 million tokens and a current price of $30.15, Chainlink’s market cap has reached $13.6 billion at the time of writing. While it may take some time to reach the token’s all-time high of $52.88 reached May 10, 2021, the potential remains for terrific gains in both the near and long term.

Competing for market share with altcoins like Band Protocol (BAND), Chainlink’s future is all but certain. Nevertheless, for its growing community of supporters, the token represents a solid investment opportunity.

Elliot Laybourne is a hedge fund and investment bank trading specialist. And as a contributor for InvestingCube, Laybourne recently authored a bullish prediction for Chainlink’s immediate future.

In his detailed report, Laybourne outlines a path for a brand new all-time high — and he believes it could happen sooner than later. Having broken through key resistance at $27.20 and $27.50, Laybourne predicts a near-term spike to $45. And should resistance here also be broken, Chainlink may be on its way to record prices.

The Economy Forecast Agency (EFA) specializes in long-range financial market forecasts. And while the analysts behind the agency’s Chainlink predictions see solid growth in the near term, their expectations are somewhat muted when compared to other prognosticators in the space. 

Seeing a 16% drop during the 1st month of 2022, the EFA predicts an end-of-January price of $37.88. And while this forecasted target would represent solid gains for investors currently holding Chainlink, traders selling Chainlink in anticipation of the change could potentially exacerbate the fall, spiraling the price of the coin deeper into bearish territory.  

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As a top tier altcoin with a massive following, Chainlink is found on exchanges throughout the world. For U.S consumers, try Coinbase, eToro, Voyager and Crypto.com. While each of these platforms comes with its own unique feature set, a shared characteristic between them is industry leading security. 

Another reason savvy investors choose from the reputable exchanges listed above is for their fantastic altcoin selections. Choosing between platforms with a large selection of leading cryptocurrencies can save you from signing up for multiple exchanges later.

1 Minute Review

Coinbase is one of the Internet’s largest cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs. 

You can even earn cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality.

Though Coinbase doesn’t offer the most affordable pricing or the lowest fees, its simple platform is easy enough for complete beginners to master in as little as a single trade.

Best For

  • New cryptocurrency traders
  • Cryptocurrency traders interested in major pairs
  • Cryptocurrency traders interested in a simple platform
Pros

  • Simple platform is easy to operate
  • Comprehensive mobile app mirrors desktop functionality
  • Coinbase Earn feature rewards you with crypto for learning about available coins
Cons

  • Higher fees than competitors

1 Minute Review

eToro, headquartered in Cyprus, England and Israel, has provided forex products and other CFD derivatives to retail clients since 2007. A major eToro plus is its social trading operations, including OpenBook, which allows new clients to copy trade the platform’s best performers. Its social trading features are top notch, but eToro loses points for its lack of tradable currency pairs and underwhelming research and customer service features

Best For

  • U.S. based cryptocurrency traders
  • Social and copy traders
  • Simple user interface
  • Community engagement and following other traders
Pros

  • 25 cryptocurrencies
  • Expansive network of social trading features
  • Large client base for new traders to imitate
Cons

  • U.S. traders can only buy cryptocurrency

1 Minute Review

Crypto.com strives to make cryptocurrency a part of everyday life by offering a full suite of services for crypto users. The company offers a Crypto.com App, Exchange, Visa Card, DeFi swap, DeFi Wallet, DeFi Earn, Crypto.com Price, staking, crypto lending, and many other services. What really sets them apart, however, is the combination of super low fees and incredibly generous rewards programs for their users.

Pros

  • Low fees
  • High security
  • One-stop shop for all your crypto needs (wallet, trading, spending, and more)
  • Lots of ways to earn interest, rewards, and rebates
Cons

  • Low privacy
  • Customer service response time could be improved

1 Minute Review

Voyager is a leading name in the sphere of cryptocurrency investing, giving you access to over 50 tokens and coins. Buy, sell and swap assets using Voyager Crypto’s simple mobile platform available as a free download for iOS and Android users. 

When you invest through Voyager, you’ll pay nothing in commissions, which is a major benefit when compared to other cryptocurrency brokers. Voyager is also one of the only brokers we’ve seen that allows users to earn interest on their crypto investments. 

Though the broker could do more to improve its customer service, it’s an excellent option for beginner investors and seasoned professionals alike.

Best For

  • Cryptocurrency investors looking for a wide selection of supported projects.
  • Investors who prefer mobile trading.
  • Anyone interested in earning interest on their crypto investments.
Pros

  • Simple, straightforward and intuitive mobile platform
  • Wealth of investment opportunities
  • Allows users to earn interest on select crypto investments
Cons

  • Only available for mobile users — no desktop platform
  • Limited routes to contact customer service team

Chainlink reached its all-time high of $52.88 in May. And if you’ve seen the content coming from the token’s fervent online supporters, you may have come across a few predictions asserting Chainlink could reach $100 in the not too distant future.

Of course, a $100 coin would skyrocket Chainlink’s market cap above $45 billion. Keep in mind that such a dramatic increase would place Chainlink in direct competition with Solana (SOL) as the 7th largest cryptocurrency in the market. When considering Chainlink’s market cap, It may be more reasonable to lower our expectations going forward.

Whether you purchase Chainlink through a decentralized exchange (DEX) or traditional trading platform, you will need to move your assets into a private wallet to take full ownership. Choosing a secure and reputable wallet is vital to properly securing your cryptocurrency.

Wallets come in both hardware and software varieties. Hardware wallets offer the best protection. Physically storing your private keys, hardware wallets separate your assets from easily hacked devices like your smartphone.

Software wallets, on the other hand, allow users to interact directly with Web3-enabled websites. With a software wallet connected to the internet, you can purchase goods and services with your crypto and swap tokens on your favorite DEX.