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Is Chainlink a New Bitcoin? The Cryptocurrency Surpasses Its Previous Records

13 July 2020, 13:02
Votes: 1

As the latest news on cryptocurrency shows, some virtual cash systems have real chances to leave Bitcoin behind in terms of popularity. One of them is, undoubtedly, Chainlink, which is growing exponentially day by day.

Is Chainlink a New Bitcoin? The Cryptocurrency Surpasses Its Previous Records

Chainlink is Ethereum-based cryptocurrency that has tokens called “links”. The project has entered the market in 2015, and its primary goal is to connect payment solutions with blockchain systems. It hadn’t been so trendy as BTC until it began to reach impressive figures in its value. At the current time, the cryptocash has increased by approximately forty percent in comparison with its previous records. Its market cap hit $2.5 billion.

Three reasons that lay behind Chainlink’s growth

According to experts, this dramatic increase in price is fuelled by three main factors. The first one is partnerships with companies that have a leading position in the market. For instance, Nexo, a company with a high level of traffic, as well as other blockchain-related services. Moreover, Chainlink has been mentioned by Google as a solution that can help with using Google Cloud for creating blockchain apps. Other factors are stable dynamics and proper price setting.

It is interesting to see what is next. Chainlink has many opportunities to continue its growth and hit new records high. The cryptocurrency analysts are sure that the company can gain more and head on to the $10 milestone.

Read more: All you may want to know about the Ethereum price

Read more: Predictions about the 2020 Bitcoin price

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