Chainlink would trade at this price if LINK hits its all-time high market cap
Chainlink (LINK) reached an all-time high price of $52.70 on May 10, 2021, as well as an all-time high market cap of $22.798 billion five days before it. Chainlink has an unpredictable circulating supply...
Chainlink (LINK) reached an all-time high price of $52.70 on May 10, 2021, as well as an all-time high market cap of $22.798 billion five days before it.
Chainlink has an unpredictable circulating supply inflation. All LINK tokens in existence were created within the network’s official launch, but only a few were put into circulation, initially through an ICO, and later through arbitrary releases by Chainlink Labs and other shareholders.
Notably, there is a total of 1 billion LINK, from which around 462 million are still vested in non-circulating crypto wallets, ready to be released as per the company’s decisions. For 2023, Chainlink Labs had previously announced a yearly token inflation of around 7%.
With such an unpredictable model, Chainlink is highly affected by its token’s inflation. Considering data retrieved by Finbold on September 18, with a circulating supply of around 538.1 million LINK, the native token would be worth close to $42.36 — $10.34 (19.6%) less than its all-time high price in US dollars.
Moreover, market capitalization is usually used to measure the market’s perception of value in a given asset, as well as its speculative demand in a given moment. This means that Chainlink constantly needs an increased demand to meet historical prices with a previously much lower supply.
Chainlink (LINK) price analysis
Meanwhile, LINK is trading at $6.68 at the time of publication, which would potentially offer the possibility for Chainlink investors to gain 535% for purchases made at this moment if this cryptocurrency ever meets previous demand.
Comparatively, the current price is -87.35% lower than the all-time high price.
Michaël van de Poppe, an experienced crypto trader and analyst remains optimistic about Chainlink’s potential for the long term.
“It’s still an opportunity of a lifetime.”
— Michaël van de Poppe (@CryptoMichNL), CEO & Founder MN Trading
Interestingly, the MN Trading Founder and CEO is projecting LINK’s price to $8 from the current retest in the $6-$6.60 price zone.
— Michaël van de Poppe (@CryptoMichNL) September 18, 2023Request 1 – $LINK
This one is showing upwards momentum and I think that the bottom is in.
Retests are ready to be bought. If we get $6.15-6.40 retest, that's an entry towards $8. pic.twitter.com/1nqCroCKzp
Chainlink is also leading the crypto market best-performers on September 18, as a bullish sentiment starts to dominate.
How other cryptocurrencies would perform according to their all-time high market cap?
- XRP would trade at this price if it hits its all-time high market cap
- Ethereum would trade at this price if it hits its all-time high market cap
- Dogecoin would trade at this price if it hits its all-time high market cap
- SHIB would trade at this price if it hits its all-time high market cap
- Cardano would trade at this price if it hits its all-time high market cap
- Bitcoin would trade at this price if it hits its all-time high market cap
- Solana would trade at this price if SOL hits its all-time high market cap
- Stellar (XLM) would trade at this price if XLM hits its all-time high market cap
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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