Chainlink’s price has not been left behind by the bull run. LINK price has broken through a three-month resistance level, reestablishing a bullish trend. Following this strong price action, one analyst predicts that Chainlink will surge above $600 and eventually surpass Ethereum’s market cap by the end of the bull run. Can LINK do this?
In the New York pre-market trading session on November 11, the LINK price hovered around $14.07, down 3.2% in the past 24 hours.
Chainlink Price Expected to Reach Ethereum’s Market Cap
Sam, a cryptocurrency analyst and macro investor, predicts that Chainlink will replace Ethereum by the end of this bull run. Sam says Chainlink’s blockchain-neutral nature makes it a winner compared to networks like Solana (SOL), Avalanche (AVAX), or Ethereum (ETH).
He pointed out that Ethereum’s market cap has soared to $372 billion because it has a first-mover advantage in the DeFi space. However, Chainlink remains irreplaceable as the security layer that connects everything.
Chainlink has completed multiple pilot projects with leading financial institutions and world-renowned institutions such as SWIFT, and Sam cited a report from Citibank indicating that Chainlink’s role in the DeFi and smart contract fields may give it an advantage over Bitcoin.
Data from Santiment shows that the current Chainlink breakout has been in a bubble since mid-September due to increased whale activity during the price surge.
What are the chances of LINK price reaching $600?
The probability of Chainlink price reaching $600 is high. Currently, DeFi protocols protect over $31 billion worth of assets and over $34 billion worth of transaction volume, according to DeFi Llama.
A good way to assess whether an asset is undervalued is to check. Chainlink’s market cap is currently $8.8 billion, protecting over $30 billion worth of assets. This means that LINK is severely undervalued and could explode higher as funds flow from BTC to large altcoins.
If Chainlink reaches Ethereum's peak market cap, it will trade at $632. In the previous bull run, Chainlink price surged 3,709% from the 2020 bottom. If it rises at the same rate, LINK will soar to $518. However, the 2025 bull run could be even bigger because there are more institutional investors and even entire countries involved. Therefore, if $518 was the potential of the previous cycle, Chainlink price could soar to over $1,000 by the end of this bull run.
Chainlink Price Poised for an Additional 67% Increase as Markets Soar
Chainlink price has gained more than 45% in the past week across the market, breaking through a critical resistance level around $13.50. This support-turned-resistance level supported the price for more than 9 months since November 2023 until it broke due to massive selling pressure. After suppressing price action for about two months since August 2024, LINK is finally back above this level and could rise 67% to reach its previous yearly high.
Chainlink price prediction shows that near-term targets include $15.50 and $19. If these levels are surpassed, LINK could surge to $22.87 and revisit its all-time highs.
The U.S. presidential election has brought significant volatility to the cryptocurrency space. Market observers have noted that regulation may begin to favor digital assets due to President-elect Donald Trump’s support for cryptocurrencies. Chainlink’s price could surge to $600 or even higher as it has been laying the necessary groundwork with banking institutions since its inception.
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