Assessing Chainlink’s growth Chainlink has grown

Assessing Chainlink’s growth

Chainlink has grown over the years and has become the top decentralized oracle provider, offering numerous blockchain projects with real-world price data feeds. It debuted in 2019, but the LINK token was introduced earlier during the 2017 ICO boom. 

In 2023, it expanded to cross-blockchain support via the Cross-Chain Interoperability Protocol (CCIP). The partnerships have been scaled beyond crypto to include SWIFT and other institutions as the tokenization market gains traction. 

In fact, one user said LINK had the “real product market fit” given its viability in the tokenized market.

In the short term, however, the $16 level could be an overhead obstacle, as over 53 million LINK tokens were bought at this level (red).  If the holders opt for break-even and call it a day, more selling pressure could follow at that level.