Chainlink’s cryptomontage has been performing very well over the last few months, which has allowed it to be called „the next Bitcoin“. To get an idea of the magnitude of Link’s growth, just compare its price from May to the present.
Link’s price, for the fifth month of the year, was $0.5 USD. In less than 4 months, the value of each unit of this digital currency is $16.47 USD. Also, in the ranking of CoinMarketCap, it ranks number 5 in market capitalization.
This is a level of growth that no cryptomone currency has at the moment. The furor over everything related to Chainlink, is leading many analysts to consider it the next Bitcoin.
Link’s leap into the clouds
Chainlink’s digital currency, appeared in the year 2017. Since then and until a quarter ago, its value ranged between $0.5 and $1. This is a record that is difficult to achieve even for Bitcoin.
It should be taken into consideration that Link is the token of the Chainlink platform, which is in charge of trading all the intelligent contracts of the Ethereum’s Blockchain network.
As of June, Coinbase announced that it was incorporating Chainlink into its services. This news led to a 400% increase in the value of the currency. Since then, its growth has been unstoppable.
At this time, Chainlink’s market capitalization, which some analysts say will be the next Crypto Cash, outpaces many other large-caliber digital currencies. Some of them are, Bitcoin Cash, Litecoin or Cardano.
According to crypto-currency analysts, Chainlink could become the next Bitcoin.
Could Chainlink be the next Bitcoin?
From being just another Altcoin like many others, Link has come to play a new role in the sentiment of the crypto community. At the same time, their presence in social networks has increased significantly.
However, it should always be taken into consideration that many crypto projects are better than Bitcoin and have better performance. Despite this, the popularity of these projects against the crypto currency is the determining factor.
The fact that Bitcoin is the pioneering digital currency of the entire ecosystem, makes it an uphill battle for any other project to qualify as Bitcoin’s next serious replacement or rival.
The Queen’s Kryptonie, on the other hand, has had a significant increase in price, which, at the time of writing, is $12,000 per coin. One of the reasons for this increase could be the failed economic policies of some powers in the face of the crisis.
Another factor related to Bitcoin’s success in recent weeks is the massive buying by Wall Street institutional investors. According to media such as Forbes, Bitcoin is being bought en masse by professionals from the U.S. stock market.
Although the start of Chainlink should not be underestimated or undervalued, it will take a long time for it to become the next Bitcoin.