The world’s eyes are still gazing at Bitcoin’s massive growth, but there’s another cryptocurrency on the scene that is making even Bitcoin’s growth figures look small. Chainlink’s LINK currency has risen in value by over 700% since January and there are some tangible factors that make it look feasible that its growth isn’t over yet.
Since January 2019 Bitcoin’s value has risen by 234% — yes, even despite the drop the currency experienced this past week. In the same period LINK’s value has risen by 737% in the same period. Unlike other currencies that have experienced boom and subsequent bust, LINK has the trademark features that make it likely to maintain its strong value in weeks and months to come. Chainlink, the token’s creator has secured deals with tech giants Google and Oracle (the largest software company in the world, valued at $9.2 bn), as well as securing a listing on Coinbase.
Chainlink is making a name for itself as a leader of the smart contracts world, Chainlink fills a gap left by Ethereum and other smart contract providers by making it possible for smart contracts to pull data from pre-existing sources. Google is looking towards the technology to improve its blockchain ventures in the future, including BigQuery for which according to a CNN article it plans on using Chainlink as a middleman between Coinbase and Ethereum.
Chainlink’s latest surge in value comes as the currency has been listed on Coinbase, another big win for the company in recent weeks. The company has now signed over 30 partnerships to roll out their technology to more consumers. It now has links with Matic, Hedera Hashgraph, IOST, Streamr, Ocean Protocol, Data Sports Groups, Synthetix, Provable (Oraclize), Celer, and Bodhi and Naka Chain amongst others. The arrival of the currency on Coinbase Pro on June 26, along with these new deals will make LINK a popular option for U.S. investors. Chainlink is currently valued at $800 million on CoinMarketCap, but suffered a 0.5% fall in value from its highest share price of $2.41.
If the coming months are as filled with big announcements from Chainlink as the past few weeks, LINK’s value will keep on growing.