Earlier this year I published an article entitled, “ChainLink Ecosystem Experiences Explosive Growth”. I addressed the fact that despite a rather disappointing performance from ChainLink the ecosystem had actually experienced significant growth. ChainLink was definitely an early bird during the previous bull run and experienced major gains in the first quarter of 2020 prior to the covid crash. I guess when you factor in the early surge that LINK experienced, the overall performance was not too bad. Remember, price is merely a single metric and doesn’t provide evidence of longevity and relevance.
The Upper Hand
This is where ChainLink has an advantage over most Crypto assets and tokens. ChainLink provides a vital service that is currently being utilized by a plethora of projects and businesses. There is a solid use case and need for ChainLink and other top oracles. Referring back to my earlier article reveals just how significant ChainLink is and the dominance it holds in the DeFi space. This guarantees something way more important than price appreciation! Although nothing is guaranteed, LINK does hold the recipe for survival in a bear market. Survival and relevance eventually lead to price appreciation but a price spike does not necessarily guarantee future prospects.
Don’t Be Fooled By The “Silence”
ChainLink’s Price action has failed to gain the attention of “shillers” and altcoin hunters, which is ironically a good thing. Many of the heavily shilled projects over the last while are beginning to fall away, or face serious challenges. ChainLink is a solid project and perhaps overlooked due to that very aspect. Stability is often not attractive to speculators. They want to see impressive volatility and are not much concerned by a project that is behaving in a predictable and stable manner. However, these are often the projects that go on to lead the market higher over time and simultaneously gain significant value.
An Industry Leader
In my opinion, ChainLink is definitely one of those projects that will go on to accomplish great things. There is also the aspect of staking, which will make LINK even more desirable to a lot of investors seeking a form of passive income. ChainLink has also made a lot of significant partnerships that will most likely lead to further partnerships down the line. At the end of the day, ChainLink is a great addition to any portfolio with a long-term horizon. LINK will also offer tremendous value once BTC bottoms. These are merely my own personal thoughts and should not be considered investment advice. I am hoping to see LINK make some very bold moves leading into the next bull market.
There is a lot of wealth being generated in the Crypto market through speculation and micro-cap altcoins. However, every portfolio needs exposure to solid projects that simultaneously have the potential to still generate meaningful returns over time. I believe that ChainLink is one such project!