The Chainlink (LINK) price reached 8.48 dollars this morning on Binance when the Asian markets awoke, up 30%!
But how up will it go? To the moon?
This is the question that can be asked for this cryptocurrency and this blockchain project which is the biggest success today in the crypto market.
With DeFi decentralized finance in full swing, Chainlink is the other crypto asset that everyone is actually talking about and it is perhaps the article in Forbes that caused this pump from the Link price.
An article that headlines that the Chainlink price has taken 1000% increase in 12 months while Bitcoin BTC struggles for its part under the 10,000 dollar mark.
At this speed, the price of the Chainlink token could well reach 10 dollars this year if the market continues moving up like this.
The economic environment and the coronavirus crisis that is picking up in some countries, such as the United States, could indeed spoil the party if the world economy takes a slap when it is already in a more than delicate situation.
So this is the fomo for the Chainlink blockchain project, there are a maximum of 1 billion LINK tokens planned and 350 million are already in circulation.
This means that around 70% of Link tokens are not yet in circulation, a detail that could one day affect its price when all Chainlink tokens are on the market.
The Link price can therefore go up more or less easily if demand there is and it is more of the euphoria than the interest which one thus notes for this popular crypto token.
The more Link’s price goes up, the more the media will talk about this project with more and more investors who will therefore put money in it and in particular the general public eager for quick and easy gains.
Everything that goes up must go down to correct at one point, launched in a frantic race, the Chainlink price therefore impresses from 4 dollars in June 2020, to more than 8 dollars in July 2020!
100% increase for the Link course since June 2020, a very good investment for those who had bought it and a huge added value for the happy holders of Link who would have bought it in 2019 where it was worth 0.40 $.
So beware of the fomo on Link, the fact remains that unlike cryptocurrencies like Dogecoin, Chainlink is a very good blockchain project that clearly deserves its current success.
The first increase in Link price dates back to a partnership announcement with Google, which drew attention to this blockchain project.
Chainlink which certainly reserves other surprises and announcements in the future, a Link price which should therefore continue to progress in the future.
The Bitcoin BTC price remains stuck around $9,310.
