Chainlink (LINK) Price May Surge 24% As Project Partners With Ethereum Classic (ETC)

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Mon, 03/02/2020 - 13:47
Vladislav Sopov
After bloody 18% drop in Bitcoin (BTC) price, many traders have shifted their attention to high-tech altcoins. Chainlink (LINK) has something in store
Cover image via www.shutterstock.com
Contents

Dutch crypto analyst Michael van de Poppe published a couple of bullish predictions for the price dynamics of popular altcoins. The team behind one of them is also involved in a very promising collaboration with Ethereum Classic (ETC).

Step by step

Two days ago Mr. van de Poppe noted that a retest of the $3.70 level would be very nice for the Chainlink (LINK) token price. On February 29, 2020, the LINK price rallied almost 12% within a few hours and stopped only 10% from the new all-time-high.

Image via Twitter

Thus, the $3.7 level served as a platform for a correction that ended today in the early morning hours. After this retest, this altcoin is ready to excite traders with new splendid achievements. Mr. van de Poppe wouldn’t be surprised if the new bullish rally adds 24.3% to the pre-run price.

Also, the analyst picked Chainlink (LINK) as one of the most profitable altcoins in terms of performance in 2020 as well as a good ‘buy the dip’ option during corrections.

Price follows the adoption

Last week, the Ethereum Classic Labs team unveiled a partnership that is of crucial importance for Chainlink (LINK) adoption. The Chainlink (LINK) infrastructure will be used to organize the interaction between the Ethereum Classic (ETC) blockchain and multiple off-chain services.

Image via Twitter

Decentralized oracles by Chainlink (LINK) will allow smart contracts to reach data providers, web APIs, enterprise systems, cloud providers, IoT devices, payment systems, and other blockchains.

These systems are highly sophisticated and cutting-edge as it takes 21 independent oracles to broadcast the ETH/USD price into one of the decentralized financial applications, according to the official ETC-LINK collaboration announcement.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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