Chainlink price surges 30% in 24 hours
LINK token records
LINK, the token of the Chainlink project, has increased in value by 30% over the past day. Many market participants believe its price could reach $180.
On December 3, the LINK token briefly surged to $26, marking a 30% gain in 24 hours and a 53% increase over the past week.
Many market participants are optimistic about the asset’s future. A user on the social platform X, known as SBF, predicts LINK will exceed $180 by 2025, citing the transition of banks to blockchain as a key factor.
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Another user, Amol Trades, agrees and is considering reallocating part of his SOL holdings to LINK, stating that Chainlink has "too many strong tailwinds."
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What is Chainlink?
Chainlink is a decentralized oracle network that connects smart contracts to external data sources, APIs, and traditional banking systems. Oracles enable blockchain systems to interact with the real world by providing accurate information such as asset prices or sports results.
LINK is the native token of the Chainlink ecosystem, operating on the Ethereum blockchain under the ERC-20 standard. It is used to pay for oracle services, incentivize network participants, and ensure network security. Node operators earn LINK for providing accurate data and maintaining reliable network operations.
In late October, Chainlink announced the launch of private blockchain-based transactions tailored for institutional clients.
