Chainlink’s cryptocurrency has had a great performance in recent months, which has allowed many to call it “the next Bitcoin.” To get an idea of the magnitude of Link’s growth, just compare its price from May to the present.
Link’s price, for the fifth month of the year, was $ 0.5 USD. In a period of less than 4 months, the value of each unit of this digital currency is $ 16.47 USD. Also, in the CoinMarketCap ranking, it is ranked number 5 in market capitalization.
This is a level of growth that no cryptocurrency has at the moment. The furor over everything related to Chainlink, is leading many analysts to consider it the next Bitcoin.
Link’s jump into the clouds
Chainlink’s digital currency appeared in 2017. Since then and until a quarter ago, its value ranged between $ 0.5 and $ 1. At this time, for its part, its value has risen by more than 1,600%. This is an elusive record even for Bitcoin.
It should be taken into consideration that Link is the token of the Chainlink platform, which is in charge of operating with all the smart contracts of the Ethereum Blockchain network.
Since June, Coinbase announced that it was incorporating Chainlink into its services. This news caused a 400% increase in the value of the coin. Since then, its growth has been unstoppable.
Right now, Chainlink’s market cap, which some analysts say will be the next Bitcoin, outperforms many other large-caliber digital currencies. Some of them are, Bitcoin Cash, Litecoin or Cardano.
Could Chainlink be the next Bitcoin?
From being just another Altcoin like many others, Link has gone on to exert a new role in the sentiment of the crypto community. At the same time, their presence on social media has increased significantly.
However, it should always be taken into consideration that many cryptocurrency projects are better than Bitcoin and have better performance. Despite this, their popularity against the queen cryptocurrency is the determining factor.
The fact that Bitcoin is the pioneering digital currency of the entire ecosystem, makes it difficult for any other project to be qualified as the next serious replacement or rival of Bitcoin.
The queen cryptocurrency, for its part, has had a significant increase in its price, which, at the time of closing the article, is $ 12,000 per coin. One of the reasons for this increase could be the failed economic policies of some powers in the face of the crisis.
Another factor related to the success of Bitcoin in recent weeks is the massive purchase made by institutional investors on Wall Street. According to media such as Forbes, Bitcoin is being bought en masse by professionals in the US stock exchanges.
Although the Chainlink startup should not be underestimated or underestimated, for it to become the next Bitcoin, it will take a long time.
Data to take into consideration
- At the time of writing, the price for Link is $ 16.47.
- Chainlink’s market capitalization, according to CoinMarketCap, is $ 5,764,408,642.
- From May to the present, Link has grown more than 1,600% in value.
- Link’s highest point in price was reached on August 15, when it reached $ 19.13 USD.
The information in this content has been extracted from reliable sources detailed below.:
1- Professional content management by the authors of CriptoTendencia.
2- External sources: Glassnode.com and CoinTelegraph.