As the year 2024 approaches, the cryptocurrency market is buzzing with predictions about which tokens will see significant gains. One token that is being touted as a potential long-term winner is Chainlink ($LINK), despite its current underperformance, according to crypto commentator Quinten Francois.
Francois, who has a following of 107,000 on the social media platform X, has been vocal about the typical investor mindset towards cryptocurrencies. He explains that investors often criticize coins for underperforming, only to be surprised when these coins surge during a bull run. This sentiment is echoed by another user on X, thenewyorker.eth, who emphasizes the real-world utilities provided by Chainlink, suggesting that the token holds value and long-term viability.
Chainlink has recently declared itself as the standard platform for seamless transactions between capital markets and Web3. The company has stated that this cannot happen without a “single standard for cross-chain, data, and compute.” In line with this, Chainlink launched the Cross Chain Interoperability Protocol (CCIP) in July 2023 to enable seamless cross-chain transactions. The company continues to expand CCIP to include more chains and assets, in response to the growing trend of capital markets moving on-chain.
At the time of writing, Chainlink’s price stands at $12.85. The LINK price has seen an increase since falling to a low of $4.90 in June. Despite failing to break out from a long-term descending resistance trend line, LINK was successful in moving above it in September. This upward movement led to a high of $16.58 in November, but it slowed down since. However, after consolidating for just over a month, the LINK price finally began an upward movement in late December 2023, leading to a new yearly high of $17.68.
While this information is accurate and timely, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Quinten Francois |
| Companies | X, Chainlink, BeInCrypto, Trust Project |
| Currencies | Chainlink |
| Securities | None |
