[REPOST] - LINK/BUSD - Crypto Academy | S6T4 | Team Trading Contest Post for Reminane.

Chainlink is a crypto coin like other that aims to reward a global network of computers for offering reliable, real-world data to smart contracts built on peak of blockchains.

Smart contracts, for those who are unfamiliar, are agreements that are programmed to execute if and when certain circumstances are met. Smart contracts have been utilised for a variety of purposes, ranging from the development of new crypto assets to the creation of unique crypto-financial products.

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Chainlink was intended to address this problem by rewarding data providers (known as oracles) for acting as a link between blockchain smart contracts and external data sources.

Because each oracle in the Chainlink network has a reputation score, it is incentivized to supply correct data. Nodes are also given LINK when they obey the software's rules and offer important data.

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The Chainlink team, which arrived in 2017 in a crowded field of projects, has so far been able to deliver on its objective, expanding its activities beyond Ethereum (ETH) amid a boom in market activity.

Chainlink aims to enable all blockchain-based smart contract networks by 2020. Users who want to stay up to speed on Chainlink's current development status can use the project's official project tracker.

The for-profit startup SmartContract created the Chainlink network in June 2017, and the initial version was released the same month. Steve Ellis and Sergey Nazarov, co-founders of Chainlink, collaborated with Ari Juels, a company advisor, to publish the company's white paper in September 2017.

Foundar of Chainlink

The Chainlink team then staged an initial coin offering (ICO), selling 35 percent of the 1 billion unit supply of its LINK cryptocurrency to raise $32 million. The remaining tokens were allocated in two ways: 30% to SmartContract for use in the development of the Chainlink blockchain, and 35% to encourage node operators.

• Exchanges

Chainlink (LINK) is traded on Binance, Coinone, Bittrex, Gemini, Crypto.com, poloniex, FTX, Bithumb, Huobi Global, FTX US, Kucoin, Gate.io, MEXC, Shushi swap, OkEX, Wazirx, bybit, bitfinex, Kraken, and poloniex, among other major cryptocurrency exchanges.

In the screenshots above you can also watch the major pair of LINK with diffrenet stable coin on diffrerent exchanges.

• Coinmarketcap Details

The current price of Chainlink is $16.80 dollors, according to the coinmarketcap website. It had a price change of -$1.06 dollors in the previous 24 hours. Its low and high for the last 24 hours are $16.28 and $17.95 dollors, respectively. It had a trading volume of $860,337,028.03 dollors in the last 24 hours. It has a 0.38 percent Market Dominance and a Market Rank of 23.

It has a market capitalization of $7,850,732,401.53 dollars. It has reached an all-time high of $52.88 dollors (a year ago). $0.1263 dollors is the all-time low (5 years ago). Chainlink has a return on investment of 10642.04 percent. It has a circulating supply of 467,009,550 LINK. It has a 1,000,000,000 LINK total supply and a 1,000,000,000 LINK maximum supply.

Why are you optimistic about this token today, and how long do you think it can rise?

The first reason is that this coin is among the top 30 crypto coins in the world by market capitalization, which is a significant achievement. When compared to Cardano and other coins, its maximum supply is 1 billion coins, which is quite modest.

We may expect a significant price increase in the future due to its restricted supply. It has a large number of real-world applications and a market capitalization of 7.5 billion dollars. That's fantastic.

In addition, the LINK crew is extremely dedicated and works on it at all hours of the day and night. I am optimistic about its bright future. At last, if we talk how long it may rise, according to my thoughts it will touch 90 dollors at the end of this year.

How to analyze the token? (using the analysis knowledge learned from professors’ courses) - the most important part and Do you intend to keep it for a long time or when to sell it?

I'll utilise two indicators to check my LINK coin entries. The first is the Median indicator, which I learned about from professor abdu.navi03 a few weeks ago. The second indication is known as the Parabolic SAR, and it is one of my favourite indicator.

The median indicator is the first indicator that is used. The colour green indicates a bullish trend, whereas the colour purple indicates a bearish trend. When the green cloud forms, it indicates that the trend is bullish, allowing for a buy entry. When the median result is purple and the thick line appears to be travelling above the market price, we know we're in a downtrend and it is the best time to sell the asset.

The parabolic SAR indicator was the second indicator I used in my research. It is made up of a +++ form line that extends above and below the price. It is a Bearish signal when the SAR +++ line is above the price, and it is a Bullish signal when the +++ line is below the price.

As seen in the ChainLink /BUSD image above, the green cloud indicates that the trend is bullish, and thus an entry can be made as a result of the green cloud's development. When I utilised the parabolic SAR indicator after that, I noticed that the +++ form dots on the parabolic SAR indicator were also below the market price. Parabolic SAR has given us yet another bullish signal.

So after the conformation from both the indicators I take a spot buy entry in LINK coin at the price of 16.98 dollors with 24.79 BUSD.

Above you can see the prove of my transaction.

After a while, I see that the price of the LINK coin is going up as i imagine. So, I sell my LINK coin at the price of 17.09 dollors with a profit of 16 cents. You can see the prove of my transaction above.

I have no plan to hold it for a long term. I use it for short term gain.

Do you recommend everyone to buy? and the reasons for recommending/not recommending.

I would not advise anyone to invest in LINK Crypto Coin because no one can forecast the future of the cryptocurrency market or other financial online markets. It is one among the world's most volatile markets. So, before investing in any cryptocurrency coin, please research its overall fundamentals before putting money in it. As a result, overall market is risky now a days in my opinion, and I will not recommend LINK coin to you.

Anything other users want to share about the token/project.

Chainlink's technology has proven to be a key component of the DeFi and broader crypto ecosystems. To summarise, Chainlink can be used for anything that would benefit from blockchain-based smart contracts' openness, efficiency, and security. It assures that data is transmitted via an open network of nodes in which anybody can run a node, participate in Chainlink staking, and send data to smart contracts.

NOTE -- Some images design and edit by me on Canva and Picsart mobile softwares. Remaining Unsourced Screenshots data is taken from Tradingview and Coinmarketcapwebsite and the grammer check from grammarly.