Admit it: cryptocurrencies and blockchains still have a long way to go before becoming a large market. However, certain segments of the industry, such as Chainlink, remain profitable. How will they perform in the long run? Let’s discuss.
Chainlink has also experienced a downturn in the market. In May 2021, its market cap was $20 billion, but it dropped to $4 billion by the same time in 2022.Â
However, looking at its current performance, Chainlink’s price in June 2024 is over 240% higher than it was in June 2023. Since then, the cryptocurrency has not experienced significant declines. This raises the question of whether investing in Chainlink is the right decision.Â
How Chainlink Profitable It Is in the Long Run?
We are in an era where emerging and innovative technology markets are driving global commerce. One of these rising industries is blockchain, which holds significant potential for value creation.Â
Contrary to popular belief, blockchain technology and Chainlink are not solely focused on betting and smart contracts. There are various other applications where the data validation features of Chainlink prove to be beneficial.
For example, it can also be essential in the following scenarios-
- Imagine a tournament host needing accurate weather information to plan effectively. They can utilize Chainlink to both gather and validate this data.
- A company trying to make a smart contract with clients or suppliers can gather necessary information from the Internet of Things (IoT) via Chainlink.
- People can use Chainlink’s information regarding crypto values and stock markets to make wise decisions. You know how this information from other sources is unreliable, given the values are constantly changing and people can even hack various platforms.
- Some cryptocurrencies try to keep a stable value by pegging to another asset, like oil or gold. These are called stablecoins. Such currencies can use LINK to validate the price of their pegged asset.
- Additionally, we cannot ignore the betting and wagering sector. Whether it involves Litecoin, Ethereum, or Bitcoin betting sites, all parties can use Chainlink to collect sports scores, validate them, and execute smart contracts based on the agreed terms and conditions.
LINK and other Oracle systems can also do reverse data transfer. Here, they push blockchain information to the real world. A use case for this will be to unlock a smart lock or trigger a specific action after a user pays a fee using the Ethereum transaction platform. This capability alone also opens doors to many other practical use cases.
Simply put, Chainlink’s practical use is almost limitless. Since we are moving towards a future where AI is a big thing, Chainlink can help the machine learning sector heavily. It can eventually prevent AIs from showing or using unreliable or unverified data, especially when dealing with substantial markets.
What Is the Current Market of Chainlink?
At the time of writing, Chainlink’s price is almost similar to last year’s. If we go by date-to-date, there has been a 3.87% increase in value.
During the last March, the value reached its all-time high for the year ($21.64). Right now, it is $11.43. It is no wonder, as many experts have already predicted the average value to be $11.72 in 2024, which is not far from the truth.
Chainlink did not experience significant growth this year. It’s important to note that LINK’s value was only $4.70 in June 2023. By the end of 2023, it had skyrocketed by 240%.Â
Chainlink Price Prediction 2025 – 2030
Experts and general investors following LINK have high hopes for its future moments. Predictions by experts in the field and AI have both shown similar results. According to experts some possible values of Chainlink in the near and far future-
| Year | Average Value | Value Increase Percentage from the Previous Year |
|---|---|---|
| 2025 | $16.55 | 41.22% |
| 2026 | $23.10 | 39.58% |
| 2027 | $30.20 | 30.73% |
| 2028 | $45 | 49% |
| 2029 | $65.03 | 44.51% |
| 2030 | $92.31 | 41.95% |
Many expect Chainlink’s average price to exceed $130 by 2031. Moreover, people expect it to have constant bullish momentum until 2050 or longer unless other influential or practical technology comes into the market.
Will Chainlink Hit Its All-Time High Soon?
Chainlink may reach its all-time high sooner than you think. Yes, its last all-time high was in 2021, when its value went to $52.70.
Meanwhile, it is $11.43 today, which is -78.31% lower than the all-time high. If the crypto token retains its proper growth percentage, it will reach that point again within the next couple of years.
According to expert predictions, the all-time high of LINK will become lower than its average value in 2029. It may also get below the support floor in the next decade. Why do we believe so?
When we predicted Chainlink’s value, we also considered its future demand. No matter how you look at it, decentralized finance (DeFi) will play a major role in the future of e-commerce. As such, the demand for Chainlink will continue to rise, ensuring a steady growth of its value, support floor, and all-time high.
Final Thoughts
Chainlink has significant potential for future growth, with experts predicting its high value. It’s a good time to invest in LINK, as missing out could be a mistake. Currently, the crypto market cap is $2.44 trillion, down 14.7% from November 2021, with Bitcoin dominating and Ethereum at $301.69 billion. Given the heated market, Chainlink stands out as a major token worth considering for long-term profitability.
