Chainlink Price Chart (LINK) (2024)

General information about Chainlink Price (LINK)

An overview of all the key features and characteristics of Chainlink (LINK):

1. General information about Chainlink (LINK)

Chainlink (LINK) is one of the younger cryptocurrencies on the market. It was released in 2017, almost ten years after Bitcoin (BTC), and is based on a whitepaper that was published in September 2017 by its founders – Sergey Nazarov, Steve Ellis, and Dr. Ari Juels – describing the network’s capabilities. The network is designed as a blockchain oracle and aims to solve what is known as the Blockchain Oracle Problem.

This is a fundamental technical problem faced by networks in which blockchains and smart contracts are unable to access data that is off-chain. Having developed a solution to this problem is one of Chainlink’s accomplishments – it’s what has made Chainlink so popular, despite the fact that it’s only been on the market for a few years. For this reason, it may be worthwhile for interested traders and investors on BISON to get involved with this service and its cryptocurrency.

2. Interesting facts about Chainlink (LINK)

Chainlink’s primary job as a third-party provider is to equip smart contracts with functions for accessing external information[5]. This is called a blockchain oracle. Chainlink is a third-party service that provides this kind of blockchain oracle. Think of the oracle as a connection between smart contracts and external information. Why is this important? Agreements can be made much better in the context of smart contracts if they can access information outside the blockchain. Otherwise, the value of this modern form of contract would be severely limited.

Chainlink acts as a middleman here between smart contracts and data located outside the blockchain. It is important to note that the oracle does not serve as a data source itself. However, Chainlink performs many other key tasks, such as data retrieval, verification, and authentication. So, if you bet on Chainlink (LINK) and trade the cryptocurrency, you may well believe that this technical solution will be of particular importance in the future and that the service may grow as a result.

3. How did the current Chainlink (LINK) price come about?

The price of Chainlink (LINK) is formed traditionally, through supply and demand. When demand for this cryptocurrency increases, so does the price. If demand decreases and fewer investors or traders want to buy Chainlink, the price decreases. As with all cryptocurrencies, the price is subject to high fluctuations.

Currently, there are over 450,000,000 LINK Coins circulating. The maximum supply of coins is one billion. With BISON, you have the opportunity to follow Chainlink’s (LINK) price fluctuations without needing to have any technical know-how. The information provided here will, however, help you estimate future price developments so that you can make informed investment decisions.

4. What factors affect the Chainlink (LINK) price?

Various factors have an influence on Chainlink’s (LINK) price. These include buyer demand and the number of coins that are available. The latter form the supply of Chainlink (LINK). Because Chainlink wants to serve as a decentralized oracle network, the function of its tokens also contributes to its pricing. To understand what LINK is useful for, it is therefore important to understand its pricing.

In principle, the Chainlink (LINK) token provides smart contract users the ability to enhance smart contracts with a Chainlink Node. In Chainlink, the nodes form a decentralized network in which a provision of data from the outside world takes place. It is the operators of these Chainlink Nodes that ultimately determine the price, which is based on the demand for the data from the off-chain source. The token is a way to pay the node operators for performing their task.

5. Share price history: Milestones in the Chainlink (LINK) evolution

Although Chainlink (LINK) has not been on the market for long, the cryptocurrency has already lived through quite an eventful history. As recently as 2018, the price remained consistently well below half a US dollar. The first major rally began in March and April of 2019, with the price rising to over 3 USD by July. This was followed by a relatively long lateral movement into March 2020, which was followed by a dramatic rally into August that would witness the price rising over 16 USD.

The price then fell below the 12 USD mark until December. Chainlink (LINK) reached its highest price yet in May of 2021 with a value above 47 USD. The adjustment, which continued into July, proved to be similarly strong and brought the price back below the 16 USD mark. These strong price developments clearly illustrate the high volatility of Chainlink (LINK).

6. Buy Chainlink (LINK) in an easy and reliable way

If you’d like to trade Chainlink (LINK), BISON gives you the opportunity to do so. Trading is possible on all mobile devices, such as smartphones and tablets, by downloading the BISON app. We offer this for iOS and Android. BISON is powered by the Stuttgart Stock Exchange and allows you to buy and sell a wide range of popular and well-known cryptocurrencies – such as Chainlink (LINK) – in a simple and easy way.

The BISON app also makes it easy for you to keep an eye on the current price fluctuations. We provide a clear overview of the most important information regarding Chainlink (LINK) and other coins, so that you have all the tools you need to make informed decisions about your trading orders.

With BISON, powered by the Stuttgart Stock Exchange, you will always stay up to date with the latest developments in the world of cryptocurrencies. You can buy and sell Chainlink (LINK) and make all your transactions in one place. This gives you more control over your invested capital.

There is very little required for you to use BISON. Just create an account, verify yourself online, and deposit your funds. This is all it takes for you to trade Chainlink (LINK). BISON is made in Germany and gives both beginners and experienced users access to several key cryptocurrencies, like Chainlink (LINK).