Chainlink vs US Dollar (LINK/USD CFD)

Trading Conditions:

Axi Symbol: LNKUSD

Description: Chainlink vs US Dollar

Margin: 1%

Contract Size Currency per 1 Lot: 10 tokens

Pip Value per 1 Lot: USD 10 per $0.10

Standard Account Spread: 0.03

Pro Account Spread: 0.03

Min/Max Trade Size (Lots): 0.1 / 200

Market Open: 00.01 Monday UTC Time

Market Close: 23:59 Sunday UTC Time

Trading Break: 23:59 - 00.01 Daily, 00:01 - 01.00 Saturday UTC Time

3 Day Financing: Friday

Long Position Overnight Fee: displayed on the trading platform

Short Position Overnight Fee: displayed on the trading platform

Pricing is indicative. Past performance is not a reliable indicator of future results. Client sentiment is provided for general information only, is historical in nature and is not intended to provide any form of trading or investment advice - it must not form the basis of your trading or investment decisions.

What is LINK/USD?

The LINK/USD currency pair indicates the number of US dollars required to purchase one LINK.

LINK is the native cryptocurrency of Chainlink, a decentralised oracle network that provides real-world data to a blockchain.

Since blockchains are excellent at providing secure and trustworthy data but cannot access or verify real-world data on their own, networks such as Chainlink solve the problem by aggregating data from multiple sources to provide accurate information, which they then validate before passing it on to the blockchain.

To ensure the reliability of oracles and the data they provide, Chainlink uses a variety of security mechanisms, including reputation systems and penalties for malicious behaviour.

LINK is used to incentivise node operators (the oracles) to provide accurate data and carry out their responsibilities honestly. Although technically an ERC-677 token, it functions and can be stored as an ERC-20 token, the Ethereum network's technical standard for interchangeable (fungible) tokens.

Chainlink is a crucial technology used in numerous industries, such as Decentralised Finance (DeFi), insurance, supply chain, gambling, and prediction markets. It provides real-time price feeds for accurate lending, borrowing, and trading, as well as helping verify actual events such as meteorological conditions. Chainlink also helps with tracking and validating supply chain data, ensuring fairness in games and Non-Fungible Tokens (NFTs).

This technology that powers Chainlink has the potential to transform various industries by making smart contracts more versatile and secure.

LINK/USD historical performance

With a circulating supply of over 550 million (out of a maximum of one billion), Link's market capitalisation exceeds $4 billion, placing it among the top twenty largest crypto assets.

Having retraced more than 85 percent from its all-time high of nearly $53 in May 2021, LINK's performance has remained range-bound but volatile, fluctuating between $5.2 and $9.2.

What affects the price of LINK/USD?

The price of LINK/USD is subject to a wide range of fundamental and speculative factors, just like any other cryptocurrency or financial asset.

Significant market changes, such as fluctuations in the price of Bitcoin, have an impact on LINK as a part of the larger cryptocurrency market.

Adoption and use cases of Chainlink's oracle technology in various blockchain initiatives and industries can drive demand for LINK tokens. Partnerships and integrations with blockchain platforms can increase Chainlink’s visibility and utility, influencing its price positively. Technological advancements in Chainlink's technology can boost investor confidence.

LINK’s tokenomics (the study of the supply and demand characteristics of cryptocurrencies as well as the rules that determine how they are issued) affect the circulating supply, maximum supply, and inflation rate of LINK and can therefore influence its price.

Regulatory developments and government actions pertaining to cryptocurrencies can have a significant effect on prices, with regulatory clarity bolstering confidence in crypto projects, including Chainlink.

What to watch out for when trading LINK/USD?

When trading LINK/USD, traders must closely monitor data releases and statements from organisations that can influence regulatory policies, market sentiment, and the entire cryptocurrency market. These encompass: 

  • Chainlink's own foundation and development team for announcements of technology. advancements, partnerships, vulnerabilities, or security incidents, as well as other Chainlink ecosystem-related developments.
  • Developments in the crypto asset regulatory environment.
  • Public sentiment regarding LINK on social media platforms, forums, and news outlets
  • Decentralised Finance (DeFi)-related news and events, as Chainlink plays a crucial role in numerous DeFi initiatives.
  • Ethereum-related developments and news, as Chainlink operates predominantly on the Ethereum blockchain.
  • The listing of LINK on major exchanges can increase its liquidity and trading volume, which could impact its price.
The data is sourced from third-party providers. This information is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any trading strategy. It has been prepared without taking your objectives, financial situation, or needs into account. Any references to past performance and forecasts are not reliable indicators of future results. Axi makes no representation and assumes no liability regarding the accuracy and completeness of the content in this publication. Readers should seek their own advice.

24/5 award-winning service.
100% committed to you.

We are proud of our award-winning** service built on transparency, reliability, and global outlook

** Axi Group of companies

Ready to trade your edge?

Start trading with a global, award-winning broker.

Try a Free Demo Open a Live Account