Tanya Abrosimova
Independent Analyst
- The cryptocurrency LINK may increase by 700% in May.
- The project may surpass Ethereum as the second-largest coin by the market capitalization.
Co-founder of Framework Venture Mike Anderson believes that the price of LINK token may increase by 700% in May and push Ethereum from the second place in the global cryptocurrency rating.
LINK is a native token behind the Chainlink project, focused on creating a blockchain-based cross-platform solution for secure connection of smart contracts with the external data sources., such as data channels, APIs, etc. The project was launched in 2017, now its Ethereum-based token sits on the 13th place in the global cryptocurrency rating with the current market value of $1.3 billion.
Anderson is an early Chainlink investor. Speaking recently with Cointelegraph, he said that the price of the token can easily exceed $25. He says that Chainlink is an insurance policy for the whole DeFi (Decentralized Finance) sector.
I would put it on par with about the size of Ethereum. And I don't think that that's an unreasonable approximation because the way I see it, Chainlink is the insurance policy, the security model for providing robust, reliable data feeds for your decentralized bar contract.
At the time of writing, LINK is changing hands at 3.86$. The coin has gained over 4% in the recent 24 hours and increased by 5% on a weekly basis. Meanwhile, ETH/USD has settled at $210.00 after hitting $227.36 during early Asian hours.
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