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Chainlink
Chainlink
LINK
€ 6,82
-1,30%

Chainlink is one of the hottest cryptocurrency investments today, with a market capitalization of $11.3 billion in October 2021.

One of the most heavily used decentralized oracle networks (DON) for enabling decentralized finance and smart contracts, Chainlink was priced at $26.72, or €23,63, on Dec. 1, a significant rise over its December 2020 price of €11,99.

While Chainlink may have dipped considerably lower this fall, its status as the go-to oracle solution for incorporating off-chain information into smart contracts should give it a strong future going forward. For those who see Chainlink as a blockchain-related investment that will rise in value, a dip in price could be an opportunity to buy low on Chainlink links.

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Oracles, or secure off-chain data, enable networks to accept reliable external data, which makes the resulting smart contracts able to react to current events and be integrated into business processes. These oracles can be combined with blockchains, or on-chain code, to create a smart contract, thanks to Chainlink technology.

Decentralized oracle networks such as Chainlink, the leading DON available, are thought to be essential to the future functionality of blockchain. Long-term investors in blockchain technology may see Chainlink as an investment that could see potential profits of more than 300 percent over the next several years.

Chainlink expectations

The world’s most popular oracle solution for decentralized finance, smart contracts, gaming, nonfungible tokens, gaming, and more, Chainlink offers a suite of decentralized services on its network. These include price feeds, verifiable randomness (VRF), on-chain data feeds enabling smart contract audits, and external adapters that allow connections to off-chain resources.

Chainlink saw triple-digit growth year over year, and it’s expected that Chainlink will continue to see healthy growth over the long term. A five-year investment in Chainlink could grow by more than 300 percent.

Chainlink’s price reflects its performance—since it is already securing billions of Euros in on-chain value—as well as its potential growth and possibilities.

Chainlink 2.0 and its network creates a decentralized meta layer that can enhance smart contracts with forms of off-chain content that are scalable, confidential, and secure. For this reason, Chainlink is expected to grow in valuation over the years to come.

Chainlink price Euro

The Euro-based valuation of Chainlink has more than doubled during the past 12 months. A 40 percent downturn in November took Chainlink out of the top 15 cryptocurrency investments, which could make it a bargain right now for those who are bullish on Chainlink links.

Chainlink price chart

Starting 2021 at €11,99, Chainlink has increased in price per link, rising to more than €22 in December 2021. Chainlink has dipped here and there, showing some volatility, but overall, it’s risen in value and is likely to continue in that trend.