Chainlink (LINK) Price Prediction 2025-2030: Is $500 still on the cards for LINK?

ambcrypto.com:

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject

Chainlink [LINK] was on a bad downtrend until a week ago. However, the bullishness of the wider crypto-market had a significant impact on LINK’s price charts. In fact, the downtrend had reversed itself at press time.

So, what does this movement mean and, is now a good time to get into LINK? This article will talk about the altcoin ranked twenty fourth by market capitalization. In fact, it will also touch upon what are the key factors to consider when making a decision on buying into LINK.

Back in 2014, SmartContract.com, set out to develop a bridge between external data sources and public blockchains. This ironically led to the creation of a centralized oracle system called Chainlink. In 2017 this product was reshaped into what we now know as the Chainlink Network.

Chainlink is the largest oracle project in terms of market cap and total value secured, and number of crypto-projects associated with it. An oracle is basically a software that acts like an intermediary between the on-chain and the real world.

Source: Chainlink

Here’s a fun fact from Defi Llama – Chainlink is securing more value than all of its competitors combined. The network has secured more than $13 billion from protocols that rely on its data feeds.

In May 2021, Sergey Nazarov, Co-founder and CEO of Chainlink, disclosed in a podcast that Chainlink is estimated to have 60% of the market share.

A monopoly like this has its cons. For instance, during the Terra collapse, Chainlink caused a $11.2 million loss to the Venus protocol. This, when the latter was unable to access accurate data from Chainlink’s