Chainlink Outperforms ETH by 11% Per month, Putting LINK at $67 by May
- Crypto analyst Timothy Peterson points out that on average, Chainlink outperforms Ethereum by 11% per month
- LINK could therefore benefit from Ethereum’s historical gains in the first 5 months of the year
- Mr. Peterson forecasts that LINK could hit $40 by end of April and $67 by end of May because of this
- More crypto projects continue to integrate Chainlink oracles
Bitcoin and crypto analyst Timothy Peterson has forecasted that Chainlink could hit $40 by the end of this month and $67 by the end of May.
Mr. Peterson’s analysis is based on Chainlink, on average, outperforming Ethereum by 11% every month. He also added that if Ethereum’s seasonality in terms of gains is maintained between now and May, LINK could therefore hit the aforementioned prices within the next few weeks.
He shared his analysis of Chainlink through the following tweet and accompanying chart illustrating the Ethereum seasonality that he used to forecast the LINK values.
On average, #Chainlink outperforms #Ethereum by 11% per month. Based on the historical seasonality in Ethereum, this puts $LINK at $40 end of April and $67 end of May. pic.twitter.com/fy20PjIQTs
— Timothy Peterson (@nsquaredcrypto) April 6, 2021
Everest.org, xDai Chain, DyDx Exchange and Ether Cards Integrate Chainlink Oracles
With respect to adoption, four crypto and blockchain projects have announced integrating Chainlink oracles and price feeds in the last 24 hours.
To begin with, Ether Cards is working with the team at Chainlink ‘to bring about the unlimited potential of dynamic NFTs’. Such Non-fungible tokens are unique tokens connected to real-world events. They can be triggered by external data and computation events thus enabling the creation of tokenized commodities.
Secondly, DyDx Exchange is now using Chainlink price feeds to power its platform that runs on layer 2 ZK-rollups. Thirdly, XDai Chain has integrated Chainlink to enable developers to build scalable DApps with tamper-proof external data feeds.
Fourthly, the global banking and digital ID platform of Everest will use Chainlink oracles and price feeds to power accurate USD conversions on its Decentralized Exchange. Everest will go on to launch its own unique Chainlink node to prove solutions to its identification platform.
With the above new integrations, Chainlink now has partnerships, collaborations, and integrations with 478 crypto and blockchain projects globally.