Chainlink (LINK) is currently among the best-performing cryptocurrencies in 2023. Since January, LINK’s price has surged by over 170%, outperforming Bitcoin (BTC), which has rallied by about 160% in the same time frame.
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However, LINK had struggled for most of 2023. It was only in mid-October that the token began to rally. LINK’s rally in October could be due to SWIFT’s successful experiment with Chainlink in September. Furthermore, the Depository Trust & Clearing Corporation also announced exploring LINK’s Cross-Chain Interoperability Protocol (CCIP) for tokenized asset interoperability. Both developments strengthened the project’s bullish outlook, thereby pushing its price.
How much Chainlink (LINK) is needed to be a millionaire when its price hits $50?
If LINK hits a price of $50, it would translate to a growth of almost 230% from current levels. To have a million dollars worth of LINK at $50 per coin, you would need 20,000 tokens. The price of 20,000 LINK right now is about $304,000.
However, the question is when Chainlink (LINK) might hit a price of $50. According to Changelly, LINK could surge to $50 sometime in November 2026, almost two years from now. By November 2027, the platform anticipates LINK to surpass the $75 mark. To be a millionaire when LINK hits $75, you would need about 13333.33 tokens. The price of 13333.33 LINK right now is about $202666.66. The price rise would mean a growth of over 390% from current levels.
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Chainlink (LINK) has a lot of plans for scaling its CCIP adoption in capital markets and RWAs (real-world assets). The project also plans to expand support for additional chains and tokens. Moreover, LINK aims to enhance its Data Streams functionality, focusing on fostering a low-latency decentralized finance (DeFi) ecosystem. These developments could push LINK’s price much faster than anticipated.