Will Chainlink (LINK) Get $ 50 Again? - Kakiforex.com - Financial Market Media No. 1 in the World Will Chainlink (LINK) Get $ 50 Again? Will Chainlink (LINK) Get $ 50 Again?
InstaForex

September 7, 2021

Will Chainlink (LINK) Get $ 50 Again?

 On September 6, Chainlink (LINK) set its own record, becoming one of the best performing cryptocurrencies.


Based on observations, LINK/USDT jumped 8.25% with trading value reaching $ 36.35 for the first time since plunging close to $ 13.45 on May 20. Indirectly, the rise of LINK as a whole brought a profit of over 170%.


What invites the positive development of LINK?


On September 1, Optimism Ethereum announced that Chainlink had integrated with Ethereum’s layer-two service.


Following that, LINK rose to 36% due to the sudden demand from Chainlink users. The same impetus previously also managed to bring LINK to record a profit of 540% by the end of 2020.



For the record, about 50% -80% of decentralized financial applications (DeFi) and their reliance on Chainlink to protect live data, increase the ever-increasing demand for LINK among the Chainlink community.


LINK recorded a price increase in the first quarter of 2021, up 161%. However its record was disappointing in the second quarter after a 37%decline, as a massive correction took place in the crypto market.


This time, analysts predict LINK will break the $ 50 level in the next three weeks, testing an all -time record high (ATH), $ 52 on May 10th.


According to analysts, confidence in LINK's performance was driven by LINK's collaboration with more than 76 new projects in August. It is also possible that LINK can approach around $ 65 if a unit is worth 0.02 ETH.


At the time of writing, LINK is trading at $ 34.71, up over 4% in 24 hours. While LINK/ETH recorded a record $ 0.0088.