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Price Analysis

Chainlink Price Analysis: Chainlink and Ethereum mainnet venture hikes the market expectation

Along with other cryptocurrencies, Chainlink is also suffering from a price drop. The coin suffered from a similar stream yesterday too. On 9th June 2019, the currency opened at $1.15. The coin struggled to keep the price around $1.12, but the effort went futile as at 16:48 UTC, Chainlink touched $1.04. The regression from the opening price till $1.014 was marked around 11%. However, the price recovered, and the day ended at $1.07. Chainlink yesterday’s volume was marked around USD 20,498,196.

As per the latest news on Chainlink, the Oracle network will go live on Ethereum mainnet. The said news has given some hope to the investors. The said venture will increase the popularity of Chainlink and hence increase the traffic in the crypto market.

Current Statistics of Chainlink (LINK):

Chainlink Price Chart -10 June

Looking at the chart, we can observe a clear steep growth in the price of Chainlink. The coin was dealing around $0.50 in the first day of May month. The price almost tripled itself around 22nd May 2019, by touching a $1.4. If we closely see the chart, a double top shape is found near $1.04. Usually, the double top indicates an upcoming bullish trend, but the prices fell. June 2019 started with $1.04 in Chainlink.

  • The coin is the 28th rank in the market.
  • The ROI of Chainlink is around 613.49%.
  • The circulating supply is 350,000,000 LINK.

LINK Price Comparison and Price Prediction:

On 10th May 2019, Chainlink was marked around $0.665, and today the price is at $1.10, the progression in the price is by 67.55%.

Keeping in mind the recent price drop and current scenario, we think that Chainlink can touch $2 by the end of 2019.

Conclusion:

People who want to invest in Chainlink can expect a good Return on Investment. We would recommend both short and long term investors to dig in Chainlink. However, diverging the investment in the cryptocurrency market must be done to deteriorate the risk.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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