Chainlink (LINK) experienced a significant surge in its price during the latter part of 2023, reaching a peak of $16.97 on December 9, 2023. However, subsequent to this peak, the token has witnessed a trend of diminishing highs and lows. Presently, LINK shows a decrease of more than 7% in the 14-day charts and a 3.8% decline over the preceding month. Despite this recent decline, the asset’s price has soared by an impressive 97.1% since January 2023.
The surge in Chainlink’s (LINK) value in October 2023 closely followed the upward movement of Bitcoin (BTC). Additionally, the project collaborated on a proof of concept initiative with Vodafone’s Digital Asset Broker, which contributed to the upward momentum of LINK’s price. Furthermore, the project announced a partnership with the Australia and New Zealand Banking Group Limited (ANZ), bolstering investor confidence in the asset.
Chainlink (LINK) Price Trends in February 2024
According to Changelly’s analysis, LINK’s price is forecasted to potentially reach $14.96 by February 1, 2024, marking a 2.26% increase from its current levels. Furthermore, Changelly expects LINK to surpass the $18 threshold during the initial week of February, reaching $18.83 by February 7, 2024, reflecting a substantial growth of approximately 28.7% from its current valuation.
Changelly predicts that LINK’s price will fluctuate between $17 and $18 for the majority of the upcoming month. CoinCodex also projects Chainlink (LINK) to breach the $18 milestone in early February, aiming for $18.04 by February 6, 2024. Additionally, CoinCodex foresees LINK reaching $20.47 by February 9, 2024, suggesting nearly a 40% surge from its present levels.
Alongside Solana (SOL), Chainlink (LINK) emerged as one of the top-performing cryptocurrencies in 2023. Analysts widely expect LINK to sustain its bullish trajectory throughout 2024. The project’s expanding community, global partnerships, and ongoing technological advancements position LINK as a compelling candidate for significant returns. Notably, the project has also made strides in facilitating tokenized Real World Assets (RWAs) on a large scale.