Chainlink (LINK-USD) is landing a spot on the trading floor of Robinhood (NASDAQ:HOOD), and Chainlink price predictions are taking off as a result. With the coin reaching a new demographic through the listing, investors might expect LINK volume to boom. What are experts expecting of the blockchain oracle player?
The Chainlink network is one of the blockchain market’s most important players. Behind the scenes, it is what fuels many of the decentralized applications (dApps) across the whole slate of layer-1 and layer-2 networks. It provides data oracles — networks that allow developers to build hybrid smart contracts. These smart contracts can pool data from off the blockchain and bring it on the blockchain.
While that might sound confusing on paper, it makes sense in practice. Say a developer wants to port real-time crypto price data onto their dApp, so users can get the most accurate pricing for their crypto swaps. The developers can implement a Chainlink oracle to fetch this data and automatically bring it back. This extends far beyond just price-fetching, though; Chainlink is capable of tracking all sorts of data, from weather reports to the news.
Robinhood, meanwhile, is a company working toward greatly expanding its crypto offerings. After becoming a go-to exchange play for crypto investors new to the space, Robinhood is bolstering its offering and trying to keep that energy captured. In the early months of 2022, the company added new crypto trading options to its platform for the first time since 2018. It has also added a dedicated wallet, allowing users to move assets on and off the platform. This week, the company is continuing its crypto push by linking up with Chainlink.
Chainlink Price Predictions Heat Up With Robinhood Listing
Earlier this morning, Robinhood made another big crypto move, announcing that it is listing Chainlink’s LINK coin for trading. The announcement makes for Robinhood’s twelfth cryptocurrency trading option, and for Chainlink, it means gaining exposure with a broad demographic of investors. Thus, investors are chattering over Chainlink price predictions in the wake of the news.
Robinhood is one of the only crypto trading platforms in the U.S. where users don’t need a crypto wallet to buy assets. Moreover, the company’s crypto trading floor is located on its existing stock trading app. This means users don’t even need to download another app or make a new profile to trade. It’s these low barriers to entry that make Robinhood a very appealing place to land a listing, and Chainlink is certainly quite lucky to be one of the few.
With that said, there’s a lot of hype surround Chainlink prices as a result of the news. The coin is already gaining about 6% to start the day. LINK-USD currently sits around $6.50. Will it continue its upward journey after landing this listing? Let’s take a look at some Chainlink price predictions and see what analysts are predicting:
- CoinPriceForecast is expecting LINK to close out the year at $8.22, an 18% upside.
- DigitalCoinPrice is more bullish, expecting LINK to reach $9.05 by the end of the year.
- A 12-month forecast by WalletInvestor paints a different picture, though. The site expects LINK to drop to just 50 cents by June of 2023.
- On the flip-side of the coin, Gov Capital is far more bullish. The site predicts a June 2023 price of $34.26 for LINK.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.