In summary:
- The digital asset of ChainLink (LINK) continues on its bullish climb above $10.
- With a new all-time high of $10.77, ChainLink inches closer to providing 100x in returns for ICO investors.
- The ICO price per link was $0.11.
- ChainLink still has more room to grow in the crypto markets.
- However, caution is advised when going long on LINK.
The digital asset of ChainLink (LINK) has once again exceeded expectations by breaking away from the influence of the brief crypto pullback only 24 hours ago as a result of Bitcoin dipping to $11,300 levels. During the latter event, ChainLink only dipped to as low as $9 and soon continued on its interstellar mission above $10. At the time of writing, LINK has printed an all-time high value of around $10.77 – Binance rate.
ChainLink Inches Closer to Providing 100x in Returns since ICO
Going back in time to September 2017 during ChainLink’s ICO, we find that the price per LINK on offer during the crowd sale was $0.11. Doing the math and using the new all-time high value of $10.77, this translates to a return on investment of 97%. This, in turn, means that for every $100 spent during the ICO period, investors are in profit to the amount of $9,700.
Fur ther checking ChainLink’s current ROI on Coincodex.com
, it can be revealed that those who used Ethereum and Bitcoin to participate in the crowdfunding, have an ROI of 32.54x and 71.30x respectively. Below is a screenshot elaborating on this fact.
LINK Marines Keep HODLING…till $100 per ChainLink?
Additionally, LINK marines are very much confident regarding the fundamentals governing the upward trajectory of ChainLink. The LINK marines have brushed off a report by Zeus Capital that calls the project vaporware and warns that ChainLink will fall to as low as $0.07.
Some LINK marines have gone as far as declaring that they will start taking profits when the digital asset hits $100. Below is one tweet that demonstrates investor confidence in ChainLink.
We aren’t taking profits until $100
— Link Whale (@link_whale_2018) August 8, 2020
What Next for ChainLink in the Crypto Markets?
As earlier observed, the LINK/USDT chart continues on its bullish trajectory. With each all-time high that LINK sets, the digital asset provides areas of interest for possible support zones should LINK decide to correct.
However, given the current bullish momentum and possible FOMO surrounding LINK, the digital asset has a high probability of first testing $12 before any prospects of a correction.
As with all analyses of ChainLink, traders and investors are advised to use stop losses as well as low leverage to protect trading capital. Caution is also advised when going long on a parabolic chart such as ChainLink’s.