Chainlink is a [decentralised network of oracles](/news/article/chainlink-news) that allows smart contracts to interact safely with real-world services and data beyond the realms of blockchain technology. But can LINK, its native currency, reach a value of $10,000?

![link1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/link1_9a7f58580e.png)
 
Put simply, Chainlink enables current, traditional, and modern economies to securely, efficiently, and transparently connect to the emerging blockchain space in social and business processes.
Can Chainlink reach $10,000 by 2030? Will LINK have a solid 2023?

## What is Chainlink?

The crypto and blockchain space is ever-growing. [Research suggests](https://www.grandviewresearch.com/industry-analysis/blockchain-technology-market) that the global blockchain technology market size will reach $1431.54B by 2030, at a CAGR of nearly 88% between 2023-2030. To put it into perspective, the industry was valued at $10.02B in 2022!
 
Currently, the largest chunk of the global blockchain technology market is dominated by financial services, with government, healthcare, media and entertainment, retail, transport and logistics, and travel commanding significant traction.

Chainlink has established itself as a key constituent of numerous blockchain applications. The Web3 services platform is poised to grow further as more players enter the industry. What is Chainlink exactly, and why should you know about it? Here is what makes the blockchain platform stand out.

## What makes Chainlink stand out?

As blockchain enthusiasts, we all know the primary purpose of blockchain technology is to eliminate the middleman through decentralised architecture and enjoy the benefits of reliable and secure data computation and storage systems.

Blockchain technology, however, is much more than the simple moving and recording of funds on a decentralised ledger.

Some high-level programmable blockchains allow for the execution of commands that are more expressive in nature through applications built on the chain that execute actions based on predefined, consequential events.

An example of such a command set is: if Pizza Delivery X is not delivered within 30 minutes, issue a Refund of Y to Customer Z.

These blockchain applications are called 'smart contracts' and have been the subject of major blockchain development since Ethereum (ETH) introduced them on an enormous scale in 2015.

Now, the problem is that much of the data required by [smart contracts to execute commands](/news/article/smart-contracts-blockchain) is not readily available on the blockchain. Blockchain technology does not allow for external data fetching either, as there is no ability built-in permitting smart contracts to connect with the external world.

Hence, real-world datasets such as enterprise systems, web data, Internet of Things (IoT) sensors, sports scores, and asset prices (and pizza delivery details!) are simply unavailable on decentralised ledgers. This deficiency severely impacts smart contract development.

However, there is a silver lining. This is where Chainlink comes into the picture (big time!). A software constituent called an 'oracle' can provide this data to the blockchain. The oracle mechanism, however, must possess the same reliability and security properties of the blockchain to avoid counterparty risk.

A single centralised oracle is a single point of failure - if the oracle fails to deliver accurate results or results at all, the entire smart contract is at risk.

Chainlink, with its decentralised oracle network, comes to the rescue. The Web3 services platform was built to allow smart contracts to automatically transfer data between blockchains and external systems securely and reliably.

A decentralised network of oracles gathers data from numerous sources, aggregates it, and delivers a validated, solitary data point to a smart contract, enabling the contract to execute a set of commands accurately. This eliminates the possibility of a single point of failure.

Furthermore, Chainlink provides several layers of security that extend the boundaries of decentralisation, thereby ensuring that users can trust the platform. [These features include](/news/article/chainlink-staking-to-boost-oracle-security):

•	Generalised architecture.

•	Data signing.

•	High-quality data.

•	Blockchain agnostic.

•	Service-level agreements.

•	Reputation systems.

•	Oracle and data privacy.

•	Advanced oracle computations.

You can think of a Chainlink oracle as a composable piece of architecture. In today’s blockchain sphere, interoperability is the need of the hour. Along with being blockchain agnostic, Chainlink oracles ensure a high level of composability. Here is what Stani Kulechov, CEO of Aave, had to say about the same:

“Part of composability is that you don’t have to build everything by yourself. Chainlink’s oracle is very good, and it’s part of this whole composability idea, it’s vital.”

High words of praise indeed. To put it into perspective, the company itself has outlined a massive [77 smart contract use cases](https://blog.chain.link/smart-contract-use-cases/) it enables, the primary ones being decentralised finance (DeFi), insurance, gaming, and traditional systems.

If it has not been made evident yet, technologies like Chainlink will play a massive role in shaping what the projected $1T+ global blockchain technology market is meant to be in years to come. 

That said, what role does LINK, the blockchain’s native cryptocurrency, have to play in the grand scheme of things?

## Can Chainlink reach $10,000 in 2023?

### LINK price prediction: basics of the cryptocurrency

LINK is an ERC-677 token (an extension of ERC-20), and it plays a crucial role in the ecosystem. The ecosystem is supported by many smart contract developers, security auditors, node operators, and data providers. Anyone can become a node operator on Chainlink.

LINK compensates these node operators for retrieving data from external data sources, converting it into a blockchain-readable format, off-chain data computation, and uptime guarantees. LINK first caught the public eye when it stormed to $52.7 in May 2021.

Of course, several keen investors had their eyes on the token long before that. According to [Coingecko data](https://www.coingecko.com/en/coins/chainlink), at the time of writing, the cryptocurrency's price is $8. The market cap of the crypto token is just over $3.93B, with a 24-hour trading volume of nearly $720M.

The crypto asset has a total supply of 1B tokens and a circulating supply of over 491M tokens. As mentioned, LINK reached an all-time high of 52.7 on 10 May, 2021, and an all-time low of $0.149 on 29 November, 2017. Let us see how the cryptocurrency has fared in the past 12 months.

![link.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/link_3a6a1a8187.png)
 
Source: [Coingecko](https://www.coingecko.com/en/coins/chainlink)

If we look at the above chart, 2022 was quite a rocky year for the digital asset (the same holds true for the entire industry!). After reaching the summit of $18.08 on 4 April, the cryptocurrency slumped to $6.58 on 13 May. That said, LINK has had a great start to 2023.

The crypto asset started the year at $5.57, and at the time of writing, it is at its highest yet (this year, of course), at $8.

## LINK price prediction 2023

It is near impossible to predict the price LINK could reach in 2023. That said, the signs are positive and the market is showing signs of recovery after a horrid end to 2022 [following the SBF saga](/news/article/sam-bankman-fried-bail-co-signers-revealed).

LINK has already crossed the $8 barrier. With the [Ethereum Shanghai Hard Fork](/news/article/ethereum-shanghai-upgrade) around the corner, we could see a push toward $10 very soon. Will LINK match its all-time high levels in 2023? Unlikely. But we may see LINK push towards $20, as it did in April 2022.

Anything is possible, and if macroeconomic conditions ease up and we head into a bull market (never say never), the sky's the limit. We advise you to trade wisely and follow market updates on a daily basis before making a long-term investment decision.

## Can Chainlink reach $10,000?

Okay, let us do the maths. At LINK's current supply of 491M tokens, for each token to be valued at $10,000 would mean that the cryptocurrency's market cap is a crazy $491B!
Impossible? No.

Likely? Probably not.

To put it into perspective, the world's most valuable crypto asset, Bitcoin (BTC), has a market cap of just over $460B at the time of writing. LINK is ranked 23rd on the list of crypto assets with the highest market cap.

LINK is more likely to hit the three-digit mark in the future than the five or even four-digit mark. Historically speaking, LINK seems to be a sound investment, as it does not abide by usual altcoin movements, meaning it is relatively less volatile than other cryptocurrencies. That said, DYOR at all times, and hope for the best.


Can Chainlink Reach $10,000?

It's one of the most widely known altcoins in the crypto market today, and, as many people know, it was one of the best price performers in the previous bull run. But just what is Chainlink, and is there potential for returns this time round?

The brainchild of Russian developer Sergey Nazarov, Chainlink describes itself as an 'industry standard Web3 services platform connecting the people, businesses, and data of today with the Web3 world of tomorrow'. In simple terms, this means Chainlink acts as a connector between real-world data, on-chain protocol, and other abstract blockchains.

The development of the Web3 space is a sight to behold. It is surely the infrastructure of the future. The technology, however, will be of no use if each blockchain exists in a walled garden. The technology underpinning Chainlink allows blockchains to talk to each other and manage data streams from the real world.

There's more about Chainlink and how it works in [our report](/news/article/chainlink-news).

## Real-world use

Chainlink's close association with DeFi is well documented. It has led many to speculate that this was the cause for the token's strong performance through the last bull run.

Core to protocol design is Chainlink's ability to allow users to become node operators and earn revenue by providing critical data infrastructure. These node operators help power a broad range of decentralised price feed oracles, which are critical in securing billions in value for the leading DeFi applications such as Aave, Compound, and Synthetix.

Facilitating DeFi data price feeds is just the beginning. The current Chainlink ecosystem has more than 1 billion data access points, securing in excess of $75 billion in value with over 1,000 integrations across 700 oracle networks. As you can see, Chainlink means serious crypto business.

Reaching far beyond the crypto world, the success of projects such as Chainlink is integral to the widespread adoption of blockchain-based solutions in the real world. Business relationships with mainstream brands such as AccuWeather, FedEx, and Associated Press show just how serious modern business is taking the advent of distributed technology networks.

Ex-Google Chairman Eric Schmidt has joined the project as a Technical Advisor and believes the project is perfectly poised to help speed worldwide crypto adoption stating, "Chainlink is a secret ingredient to unlocking the potential of smart contract platforms and revolutionizing business and society.”

## Chainlink price action

Managing the vast amount of data needed to populate blockchains and smart contracts are becoming an industry within itself. It is easy to see why Chainlink proved so popular through 2020 and 2021. With next to no competition, Chainlink price grew by 2,500% in little more than 18 months, from January 2020 to May 2021.

The native token of the Chainlink network is $LINK, which has a maximum supply of 1,000,000,000. However, the circulating supply is only 491,599,970, with a current price of $7.34, giving it a market cap of $3.7 billion.

Starting the year at $5.57, the Chainlink price grew steadily in the following weeks. This slow and steady increase has caught the eyes of many crypto investors looking for a predictable return on their investment.

Opinions vary, but it is commonly believed that the Chainlink price will be one of the strongest performers in the next bull run. Technical analyses are indicating bullish signs going forward, with predictions of $100 per coin by the end of the decade not uncommon.

It doesn't pay to get ahead of ourselves. So, let's look at some predictions for the rest of 2023. Popular crypto resource site [CryptonewsZ.com](https://www.cryptonewsz.com/forecast/chainlink-price-prediction/) suggests that the Chainlink price will hit $20 by the end of the year. Whatever happens, it is safe to say that $LINK is a good crypto buy if you want to position yourself for the next bull run.

Of course, there are other ways to profit from cryptocurrency besides trading and investing. One of these is staking. [Staking](https://blog.chain.link/how-to-stake-chainlink-link/) allows holders to participate in a Proof of Stake network by loaning their tokens to the network to run a validator node.

For this, stakers are rewarded with a share of the network fees. 

Staking is a low-risk way to earn passive income on your investment. With some networks offering rewards of more than 10%, it is easy to see why it is so popular.

For a deep dive into what staking is and how it works, [read our article](/news/article/what-is-staking-crypto).

## Conclusion

As you can see, $LINK is one of the more popular cryptocurrencies available on the market today, with high levels of anticipation about what Chainlink price can achieve in the next bull run. As can be imagined with any top 50 cryptocurrency, getting hold of the $LINK token is relatively easy. Binance and Coinbase prove to be the most popular source. While the long-term future may look bright for Chainlink, there is still some concern regarding the immediate outlook. Users of the popular crypto analytics website coinmarketcap.com see a price reduction by the end of April 2023.

What the future holds for Chainlink price, we just don't know. 

However, until comprehensive regulation and policy are implemented, the industry will continue to be victim to fraud and scams. So, the same advice must be heeded for this project as much as any other – always do your own research and conduct due diligence before investing in any form of cryptocurrency.


chainlink logo over image of chainlink fence

What does the future hold for the Chainlink price?

Ready for some [Chainlink](https://chain.link/) news? Let's start by explaining what it is.

[Chainlink](/coins/link), then, is a decentralised oracle network intended to function as middleware between smart contracts on innovative contracting platforms and external databases, authorizing smart contracts to safely access off-chain data feeds.

## Chainlink History

Developed in September 2017, the Chainlink protocol was officially launched on mainnet in May 2019. The crypto coin strives to solve the oracle problem, an inherent restriction of blockchain networks that controls them from linking to external databases that exist off-chain. 

Chainlink delivers a comprehensive range of decentralised services via a network of autonomous oracle node operators to smart contracts, including:

•	Price Feeds - financial market data used to control a large portion of the DeFi economy, 
•	Verifiable Randomness - allowing the creation of dynamic NFTs and unbiased on-chain gaming applications,
•	Proof of Reserve- supplying proof of off-chain collateral that supports stable coins and cross-chain tokens,
•	Keeper Network- transaction automation bots that deliver independent DevOps services.

The newly published Chainlink 2.0 whitepaper also widens the abilities of Decentralised Oracle Networks (DONs). It explains how the Chainlink network matures to deliver tamper-proof data and secure off-chain computation. Chainlink oracle networks allow the creation of highly scalable and privacy-preserving hybrid smart contracts that connect on-chain and off-chain infrastructure.

The latest scalability upgrade of the Chainlink network, Off-Chain reporting, reduced oracle updates' gas prices by 90%, representing the first move towards attaining the plans mentioned in the whitepaper.

## Chainlink Technology
 
The decentralised oracle network Chainlink allows smart contracts to safely interact with real-world data and services beyond the blockchain networks. Like blockchain, Chainlink is not a monolithic network; rather, it is an infrastructure and framework for creating blockchain-agnostic oracle networks that extend the capacities of blockchains and layer-2 protocols.

Chainlink oracle network comprises multiple autonomous oracle nodes that assemble data from various autonomous data deliverers, aggregate it into a single data point, and supply it on-chain to be consumed by smart contracts. Chainlink's adaptable architecture allows for highly configurable oracle networks that can be composed of any preference of data providers and node operators that use distinct network parameters such as update frequency, fee payment amounts, and more.

Chainlink nodes are used by experienced DevOps infrastructure providers, top-notch companies, and professional data providers who deliver smart contracts with access to cryptographically signed data for further security assurances. Because of its adaptable infrastructure, Chainlink can deliver any data or computation to any smart contract application functioning on any blockchain network.

## Chainlink News

Chainlink (LINK) is currently selling at $15.38 in its USD rate. LINK has a complete market cap of $7,181,227,454 with the 24-hour bartering volume of $423,830,966.00. This data makes Chainlink (LINK) rank 23 in the crypto coin market.

In 2022 forecasts, the LINK price is predicted to cross an average price level of $20.58. Chainlink's anticipated minimum price value by the end of the present year should be $19.99. Moreover, LINK can attain the highest price level of $22.56.
 



Chainlink News, History, and Technology

Since becoming the darling of investment communities worldwide, Bitcoin has spawned an entirely new class of digital assets called “altcoins.”  Seeking to replicate the success of the world’s first digital currency, the rapidly expanding cryptocurrency market continues yielding swaths of newer coins that are all designed with the intention of upending Bitcoin as the heavyweight king of crypto.

With well over 9,000 new altcoins to choose from, here’s what you need to know:

## What are altcoins?
------------------

Altcoin is short for "alternative coin.”  Quite simply, these digital assets are alternative cryptocurrencies to Bitcoin.

Bitcoin will forever be universally hailed as a “first of its kind” asset and newer cryptocurrencies developed after the fact are viewed as alternative coins, or altcoins. The first altcoins started showing up back in 2011 and they were designed to be more advanced than Bitcoin in terms of technology.  For example, quicker transaction speeds than what Bitcoin could offer. 

To get an idea of how altcoins work, all you need to do is look at blockchain technology – the environment where all cryptocurrencies “live.”  A blockchain is an _electronic ledger_ that records cryptocurrency transactions and this ledger is maintained across computers that are linked across a distributed network.  What investors finds so intriguing about cryptocurrency is that they operate on a decentralized, trustless, P2P payment network that functions without a central authority or overseer to facilitate transactions. 

It is truly _decentralised_. 

Many of the altcoins that you can invest in are, in fact, technologically superior to Bitcoin.  They’re just not as popular…yet. 

Here are three altcoins with an especially promising future:

### [Chainlink (LINK)](/coins/link)
---------------------------------------------------------------------

Chainlink's price has more than doubled in 2021, and they’ve recently announced a partnership to provide data for what are called “smart contracts” - programs used to automate the execution of an agreement so that all parties are held accountable for a desired outcome.  Chainlink is building a great reputation for being able to translate real-world data into something that these smart contracts can immediately interpret and act upon.  In a nutshell, Chainlink is offering capabilities that are very desirable in the cryptoverse, making Chainlink one of the top altcoins to watch.

### [Polkadot (DOT)](https://polkadot.network/)
-------------------------------------------------------------

Much of the ballyhoo surrounding this altcoin is that it’s promoted as “one of the most highly anticipated next generation blockchains.”  Polkadot lets developers _build their own_ blockchains and then connect them with each other, overcoming major scalability issues.  Much of the cryptocurrency brain trust has gone so far as to say that Polkadot is the future of decentralized applications.  Time will tell, but this altcoin is certainly off to an incredibly searing start.  

### [Stellar (XLM)](https://www.stellar.org/)
----------------------------------------------------------------

Stellar was created by one of the co-founders of another popular altcoin called “Ripple” and was designed with a focus on the people that are living in developing countries.  These are places where traditional banking services may not always be immediately available and Stellar is designed to be the “peoples” resource.  This altcoin offers the best in terms of real-world application.  For those who’ve worked in a business operating internationally, Stellar could be a _very_ big deal.

## Altcoin Price Volatility
------------------------

As altcoins got their start, the cryptocurrency market would move in unison with the performance of Bitcoin.  As Bitcoin went up, so did the market.  It was the same if Bitcoin trended downward.  Maybe not perfectly aligned, but about 70% and more was what we could expect.  Now, as altcoins demonstrate their usefulness, and independence from Bitcoin, there has been a break in the correlation. 

I think this is the sign of a healthy cryptocurrency market that is gaining strength, and another sign that now is the time to start looking seriously at cryptocurrencies, or altcoins, _not_ named Bitcoin.

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