Chainlink back in the crypto top 10 and LINK price prediction

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Last Updated on 7 February 2024 by CryptoTips.eu

Chainlink, the largest DeFi coin (Decentralized Finance), has been battling Dogecoin and Tron for tenth place for a few days now.

All this happens at a time when Bitcoin and other major altcoins are barely moving. That’s remarkable, and it probably means that major crypto investors (aka whales) are taking a position. Will Chainlink be the star of the next bull run?

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Chainlink looks ready for a comeback

The buzz around Chainlink was fairly quiet in 2022 and 2023, but at the beginning of 2024 the largest DeFi coin seems ready to step into the spotlight once again.

In the past week, major crypto investors (aka whales) seem to be taking positions as the Bitcoin halving (and thus a possible bull run for altcoins) is approaching. Chainlink in particular seems to benefit from this.

The last time the largest DeFi coin was constantly in the news, it even reached fifth place on the crypto top 100. That was in the summer of 2020, when DeFi was trending for a first time.

Chainlink declined somewhat in the following years, but apparently continued to make technological progress. Now that institutional investors on Wall Street are looking for altcoins with a longer lifespan that they can offer in a diversified portfolio, Chainlink appears to be poised for a comeback.

In the past week alone, the Chainlink price rose about 13%. The digital currency earlier this week traded at the highest level of the past 22 months. The ‘Chainlink Marines’, the coin’s fans on social media, are clearly very happy with the news and have been flooding X with memes.

Chainlink price prediction

Investors have high expectations for the Chainlink price. Chainlink can tokenize Real World Assets (RWAs), leading to high future expectations. The RWA market has the potential of trillions of dollars.

@QuintenFrancois believes that Chainlink will become one of the top 3 coins in the future (with a price of $200 per LINK), and Crypto Rover predicts that Chainlink will reach $100 in 2024.

Six months ago, Chainlink was trading at around $6; now it’s at $19, a 162% increase. The all-time high for LINK was $52.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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