Chainlink is a DeFi oracle network that provides clients tamper-proof communication for smart contracts present on any blockchain. The company has a native cryptocurrency by the name of LINK. Recently, Grayscale launched five new digital assets pegged trusts, including BTC, ETH, and LINK. Since the emergence of the Grayscale Chainlink Trust, the altcoin has started to gain positive movement.
The crypto investment firm recently bought 115,570 LINK coins to add more strength to its Grayscale Chainlink Trust portfolio. Another major purchase of 65,570 LINK tokens was made in the same week. At the moment, the digital asset is ranking at $30.3. However, the huge buy influx could help it reach an ATH of $41.6. According to a 5-year prediction plan, LINK could reach a value of $100-$135 by 2025.
Crypto Analyst Believes that LINK can Enter into a Head on Competition with Bitcoin
Akash Girimath, a financial expert and cryptocurrency analyst, told FXStreet.com that LINK has entered into a massive bullish wavelength. Based on the LINK/USD symmetrical triangle readings, a possibility of a 37% climb in price can be expected from LINK. Girimath believes that LINK could also face a correction at $25 and sell-out for $15.7.
However, this opinion is countered by Michaël van de Poppe. Poppe believes that LINK has a massive potential to go head to head with flagship cryptocurrency Bitcoin. He thinks that LINK would be bottomed out in Bitcoin pair, and if any currency keeps on trending against Bitcoin, it is likely to go up faster in dollar appreciation.
ChainLink Hackathon Organizing Mass Event for Raising Educational Awareness
A worldwide Hackathon is ongoing since 13th March 2021 with a participation strength of 3,500 participants. The prize money up for grabs for the winner is amounting to $125,000. This three-week event is aimed at finding new opportunities for developers to introduce new ideas for DeFi, NFT, gaming, and interconnected smart contract using the Chainlink ecosystem.
The event is co-sponsored by UNESCO Global Education Coalition. Chainlink plans to extend growth opportunities and contribute towards a meaningful social impact in education. At base, the project is aimed towards finding new ways for the NFTs and commercializing them on a massive scale. The winnings of the title would also be divided into $3000 for NFT and gaming ideas, $5000 for social impact, among other important segregations.