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What is the fundamental analysis of chainlink? Chainlink is a decentralized oracle network that provides the necessary information to the smart contracts of various blockchains. Chainlink does not have a native blockchain, but integrates with multiple blockchains simultaneously and provides information flows to all of them. In fact, the main goal of the Chain Link project is to turn smart contracts into a powerful tool. To learn about the fundamental and technical analysis of chainlink , stay with us on the Pooyan Music site.
Smart contracts play an extremely important role in the blockchain and DeFi world. The implementation of smart contracts leads to the realization of the goals of Bitcoin and decentralized networks. In fact, these contracts enable people to conduct secure peer-to-peer transactions without the need for intermediaries such as banks.
One of the tools available to traders is technical analysis. This analysis examines the history and records of a particular currency along with its price charts and trading volume. For the technical analysis of any currency, it is necessary to know the central ideas of the Dow theory. Likewise, knowing the upward and downward trends of the market is also of particular importance. But sometimes these upward and downward trends do not exist in the market and prices go back and forth within certain channels. It is also possible to buy currency from different exchanges at different prices.
One of the most widely used projects in the crypto world is Chain Link. Blockchain networks use this project to collect information from the real world. Technical analysis of chainLink leads to understanding the performance of this currency. You must have enough knowledge to use technical analysis.
Fundamental analysis of chainlink
Fundamental analysis is also very important. Chainlink has one of the best fundamentals in the crypto market. The chain Link project is led by Sergey Nazarov and has a clear roadmap.
Chainlink’s Oracle network is used by many of the most popular DeFi protocols. Chainlink is agnostic, which means it can work with any blockchain network. The beta version of the Chainlink staking program was also launched in December 2022. This program marked a new chapter in the economics of this project and led to a more secure network and support for Oracle nodes.
At the end of 2017, chainlink entered the market at a price of $19.00. In 2018, the price of digital currencies and chainlink increased and its price increased to 1.4 dollars. 2019 was an important year for chainlink , and due to the growth of decentralized applications in this network, as well as its listing in several exchanges, its price increased greatly and reached its peak price of $54.4 in June.
In 2020, this upward trend continued and reached $20, but failed to cross this price level and fell to $12. 2021 found an upward trend and reached $36, but could not cross this level and fell to $23.5. In May, it reached the level of 52.88 dollars, but started to decrease again. In 2022 and the beginning of the downward trend of the crypto market, the price of chainlink also decreased.
Many experts say that chainlink will experience huge growth in the coming years due to the increased use of smart contracts and the acceptance of digital currencies. Based on technical analysis, many analysts predict that the price of this currency will increase to 57.137 dollars by 2030.
