There hasn’t been a day this week when Chainlink (LINK) hasn’t surprised us with important moves, but today it reaches a new all-time high.
Chainlink points to the stars
Many are probably still wondering: Why has Chainlink been playing so much in the news? For those of you who don’t know, it consists of a decentralized oracle network that aims to connect intelligent contracts with real-world data and, its token, LINK is used to pay for services on the network.
But much more simply, „Chainlink is essentially a means of closing the gap between the world of block chains and the outside world,“ explains Charles Hayter, CEO of CryptoCompare.
But it has been so popular in the media because it has become the crypto surprise of the year. In fact, as we reported in CryptoTrend, LINK has had a more than spectacular performance during 2020.
Chainlink the crypto surprise of the year
Reaches a new high
In this regard, in the last 24 hours LINK has increased by approximately 10%, starting the day with a valuation of $ 16.93 to $ 18.67 at the time of writing.
However, just a few hours ago the Chainlink crypt currency reached a new all-time high of $19.51, according to CoinMarketCap, and $19.73 according to Coin360.
So Link flirted with the $20 threshold and solidified his position as the fifth largest crypto currency in terms of market capitalization.
Chainlink’s going up like crazy. Analyst predicts target of $32
Link goes for more?
As we reported in Crypt Trend this week, at the time it seemed that cryptomonics did not seem to face any barriers that could prevent it from reaching new heights. In fact, a few days later we see how it does.
However, at the time, we reported in good time that Timothy Perterson, a professional analyst, predicted that the growth in network usage and historical deviations could lead Link to $32 before the end of the year.
But, beware, Peterson explains that that price may not be sustainable. He said that „investors who buy at high levels risk losing 50% or more of their investment.
Also this week, Santiment released research concluding that Crypto Trader investors may be „increasingly hesitant about their long-running rally.
Indeed, Chainlink’s reach is not limited to DeFi but extends. So it is no surprise that the integrations and partnerships seen have driven the price up. But, the question is, how far will it go?