TLDR
Analyst predicts Chainlink could reach $100B market cap by Q2 2025
At $100B market cap, LINK price could reach $159.54
Current LINK price around $11.22, down 3.6% in 24 hours
Chainlink’s multifaceted role in crypto seen as growth driver
Strong support level between $5-$11.50 for nearly 3 years
Chainlink, a leading cryptocurrency project, could see significant growth in the coming years according to recent analyst predictions.
A market analyst known as Investor Reality on social media platform X has forecast that Chainlink’s market capitalization could reach between $50 billion to $100 billion by the second quarter of 2025.
$LINK run by the one and only @SergeyNazarov
– @chainlink is a Oracle + RWA + De-Fi play all-in-one.
– A legacy #Altcoin major back dating +7 years.
– A 3+ year accumulation became support in 2024.
– Upgrades: CCIP + Transporter + Sandbox.
– Target $50B – $100B market cap by Q2… pic.twitter.com/bQXG6Xg2UG
— Investor Reality (@invest_reality) October 4, 2024
As of the latest data, Chainlink’s LINK token is trading at approximately $11.22, representing a 3.6% decrease over the past 24 hours. The cryptocurrency currently has a circulating supply of 626.8 million tokens.
If the predicted market cap increase materializes, it could lead to substantial price appreciation for LINK. Based on the current circulating supply, a $50 billion market cap would push the price to $79.77, while a $100 billion valuation would see LINK reach $159.54.
However, if the total supply of 1 billion LINK tokens were in circulation, these price targets would be adjusted to $50 and $100 respectively.
The analyst cites several factors supporting this optimistic outlook. Chainlink’s diverse role in the cryptocurrency space is seen as a key driver for potential growth.
The project is involved in various sectors including oracle services, real-world assets (RWA), and Decentralized Physical Infrastructure Networks (DePIN).
Technical analysis also plays a role in the bullish forecast. Chainlink’s price chart shows a strong support level between $5 and $11.50, which has acted as an accumulation zone for nearly three years.
Chainlink Price on CoinGecko
Recent market volatility has seen LINK find support around the $11 mark, potentially indicating a cycle bottom.
Chainlink’s expanding ecosystem is another factor mentioned in the analysis. The project’s Cross-Chain Interoperability Protocol (CCIP) and Transporter aim to improve token bridging across different blockchains.
Chainlink founder Sergey Nazarov has noted the protocol’s role in growing the DeFi market from under $100 million to over $200 billion in market capitalization. During this period, LINK’s price rose from less than $1 to over $50.
The relationship between Chainlink’s price and the broader DeFi industry is also highlighted. Historically, LINK has shown price increases alongside growth in the DeFi sector.
As the cryptocurrency market enters what some refer to as an “alt season” – a period of growth for alternative cryptocurrencies – LINK is positioned as a potential major gainer.
As of now, Chainlink continues to trade within a range between $10.25 and $12.38, with investors viewing this as a potential accumulation zone.
The coming months and years will reveal whether the optimistic market cap predictions come to fruition and what impact they may have on LINK’s price.
The post LINK Token Price Could Hit $159 if Chainlink Achieves $100B Valuation appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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