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.
Delegate Your Voting Power to FEED DRep in Cardano Governance.
DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!
