Competition will create pressure for the development of all projects in the same field, resulting in users and the market receiving the best, safest, most effective, and lowest cost solutions. I don't like monopolies in any field, I support Chainlink but I also want Chainlink to continuously compete and develop.I also missed the opportunity with LINK in the 2020 cycle, it was quite a pity because this is one of the projects with a product that is really useful for the crypto market, and the LINK token price also increased extremely strongly, bringing great profits to LINK investors since 2018. This time I think LINK will also come back and create a new ATH but it is difficult to have an impressive price increase performance as in the 2020 cycle. I hope that new projects in the oracle sector will have the opportunity to rise up and attract more customers, helping the oracle market to be more decentralized.
I want to know your opinion about Chainlink:
- Will Chainlink continue to be a giant in the crypto market during this uptrend?
- Which project can compete with Chainlink in the oracle field?
- Which project can compete with Chainlink in the cross-chain field?
I also missed the opportunity with LINK in the 2020 cycle, it was quite a pity because this is one of the projects with a product that is really useful for the crypto market, and the LINK token price also increased extremely strongly, bringing great profits to LINK investors since 2018. This time I think LINK will also come back and create a new ATH but it is difficult to have an impressive price increase performance as in the 2020 cycle. I hope that new projects in the oracle sector will have the opportunity to rise up and attract more customers, helping the oracle market to be more decentralized.I also didn't invest in LINK in 2020 even though Chainlink was introduced and analyzed very carefully by many KOLs throughout the crypto winter of 2018-2019. It was unbelievable that LINK price recovered quickly and reached such a high price in the 2021 uptrend. Although it did not have a new high in November 2021 like many other tokens, the profit that LINK brought to holders was already too great. Currently, LINK has also brought 3-4x profit to those who bought LINK in 2023.
1. Chainlink is too big and important for the crypto market already. It will continue to lead major trends like oracle and cross-chain this season. I don't think other projects can surpass Chainlink.
- Will Chainlink continue to be a giant in the crypto market during this uptrend?
- Which project can compete with Chainlink in the oracle field?
- Which project can compete with Chainlink in the cross-chain field?
The potential of LINK is undeniable. Although the revenue from oracle is not significant compared to LINK's market capitalization, it is still an indispensable part of the market. New projects will also tend to choose Chainlink and other oracles, rather than ignoring Chainlink to trust other oracles with less decentralization and weaker tokenomics.Competition will create pressure for the development of all projects in the same field, resulting in users and the market receiving the best, safest, most effective, and lowest cost solutions. I don't like monopolies in any field, I support Chainlink but I also want Chainlink to continuously compete and develop.I also missed the opportunity with LINK in the 2020 cycle, it was quite a pity because this is one of the projects with a product that is really useful for the crypto market, and the LINK token price also increased extremely strongly, bringing great profits to LINK investors since 2018. This time I think LINK will also come back and create a new ATH but it is difficult to have an impressive price increase performance as in the 2020 cycle. I hope that new projects in the oracle sector will have the opportunity to rise up and attract more customers, helping the oracle market to be more decentralized.
I want to know your opinion about Chainlink:
- Will Chainlink continue to be a giant in the crypto market during this uptrend?
- Which project can compete with Chainlink in the oracle field?
- Which project can compete with Chainlink in the cross-chain field?
~snip~1. I can't guess if Chainlink will be able to increase in price because Chainlink doesn't seem to have any serious coin development, if I notice.
I want to know your opinion about Chainlink:~snip~
- Will Chainlink continue to be a giant in the crypto market during this uptrend?
- Which project can compete with Chainlink in the oracle field?
- Which project can compete with Chainlink in the cross-chain field?
1. I can't guess if Chainlink will be able to increase in price because Chainlink doesn't seem to have any serious coin development, if I notice.Chainlink is the behemoth in the oracle space, so I don't consider L1s like Dot, Avax, or Pol as direct competitors. In fact, they might be leveraging the oracles that Link provides to DeFi and RWA within their ecosystems.
2. Chainlink's competitors seem to be Polkadot, Avalanche and Polygon because these three coins seem to be able to create smart contracts which ultimately create tokens on their chains.
3. Cross-chain I don't seem to understand this kind of thing but if I want to answer according to my knowledge maybe Avalanche will be the cross-chain competitor of Chainlink. Cmiiw
Do you mean this $PYTH? https://coinmarketcap.com/currencies/pyth-network/#About1. I can't guess if Chainlink will be able to increase in price because Chainlink doesn't seem to have any serious coin development, if I notice......
2. Chainlink's competitors seem to be Polkadot, Avalanche and Polygon because these three coins seem to be able to create smart contracts which ultimately create tokens on their chains.
3. Cross-chain I don't seem to understand this kind of thing but if I want to answer according to my knowledge maybe Avalanche will be the cross-chain competitor of Chainlink. Cmiiw
I recall several oracle projects that gained traction during 2021 uptrend, such as Dia, Uma, and Api3, but none could truly challenge Link. Perhaps the most promising contender at the moment is Pyth on Sol. I hope it can mature and successfully compete for market share with Link.
Do you mean this $PYTH? https://coinmarketcap.com/currencies/pyth-network/#AboutThat's Pyth I want to mention. Link started from the Ether ecosystem, while Pyth started from the Sol ecosystem and has equivalent potential. Some oracles were quite successful in 2021 but unfortunately, they couldn't compete with Link in this market, possibly because they couldn't find their own unique path like Pyth focused on Sol, then sought opportunities to support other ecosystems in the market.
I also saw on coinmarketcap that this $PYTH is ranked 62, if this Pyth has the same basic system as LINK, namely Oracle, it seems good and will be able to compete between the two.
Remembering the story of Dia, Uma, and Api3, hopefully this Pyth can compete with Link because I noticed that LINK seems to be silent and there is no movement or good news from every step, isn't that right?
I immediately checked it on Coingecko to prove that Chainlink and Pyth can compete and it turns out that both are very far apart.Do you mean this $PYTH? https://coinmarketcap.com/currencies/pyth-network/#AboutThat's Pyth I want to mention. Link started from the Ether ecosystem, while Pyth started from the Sol ecosystem and has equivalent potential. Some oracles were quite successful in 2021 but unfortunately, they couldn't compete with Link in this market, possibly because they couldn't find their own unique path like Pyth focused on Sol, then sought opportunities to support other ecosystems in the market.
I also saw on coinmarketcap that this $PYTH is ranked 62, if this Pyth has the same basic system as LINK, namely Oracle, it seems good and will be able to compete between the two.
Remembering the story of Dia, Uma, and Api3, hopefully this Pyth can compete with Link because I noticed that LINK seems to be silent and there is no movement or good news from every step, isn't that right?
Link is still developing very strongly and continuously has updates on CCIP, DeFi, TradeFi, RWA. You can refer to their quarterly reports for the latest information. Link has truly become a huge force in this market, opportunities for other oracles still exist but are very few. I hope that Pyth can do something outstanding to increase the competitiveness of oracles.
- Chainlink Product Update: Q2 2024 (https://blog.chain.link/product-update-q2-2024/)
I immediately checked it on Coingecko to prove that Chainlink and Pyth can compete and it turns out that both are very far apart.Just as you mentioned, PYTH's current market cap is still quite small compared to LINK. However, that means its growth potential is still enormous, especially since it could receive a massive influx of funds within the Solana ecosystem during an uptrend and is continuously expanding its partnerships. PYTH's price is also currently at a bottom, so a 1000% increase this season isn't impossible.
https://www.coingecko.com/en/coins/chainlink
https://www.coingecko.com/en/coins/pyth-network
Chainlink is ranked 18th and Pyth is ranked 68th, in terms of Marketcap it is definitely too far and in terms of business development for Pyth it is also far. I am sure that Pyht is still too superior to compete with Chainlink.
In the next few years, Pyth will not be able to compete with Chainlink because of various factors that Chainlink has advantages over Pyth. This is just my opinion.
If I look at the current price of Pyth on Coingecko it is around 0.43 dollars, if it goes up to 1000% that means Pyth coins can reach 4.3 dollars, are you serious?I immediately checked it on Coingecko to prove that Chainlink and Pyth can compete and it turns out that both are very far apart.-
https://www.coingecko.com/en/coins/chainlink
https://www.coingecko.com/en/coins/pyth-network
Chainlink is ranked 18th and Pyth is ranked 68th, in terms of Marketcap it is definitely too far and in terms of business development for Pyth it is also far. I am sure that Pyht is still too superior to compete with Chainlink.
In the next few years, Pyth will not be able to compete with Chainlink because of various factors that Chainlink has advantages over Pyth. This is just my opinion.
PYTH's price is also currently at a bottom, so a 1000% increase this season isn't impossible.
While other oracles in the market remain quiet and seem to be forgotten, Pyth continues to attract attention, making it the biggest contender to challenge Chainlink. Bittensor is also a potential contender, but it's focused on the AI market rather than DeFi like Pyth.Oh, it turns out that Bittensor is also the same competitor for Chainlink and Pyth. Even though Bittensor, after I checked on Coingecko, is ranked 32nd and its market cap value is greater than Pyth. But back to the initial concept of Bittensor as you said, Bittensor is more focused on AI.
If I look at the current price of Pyth on Coingecko it is around 0.43 dollars, if it goes up to 1000% that means Pyth coins can reach 4.3 dollars, are you serious?I don’t think it’s impossible for PYTH to 10x from its current price. In fact, I think it could do even better if it manages to secure a key position in the market. Just look at the price charts of LINK, API3, BAND, and TRB in 2020-2021! It was crazy, especially in the oracle space.
Oh, it turns out that Bittensor is also the same competitor for Chainlink and Pyth. Even though Bittensor, after I checked on Coingecko, is ranked 32nd and its market cap value is greater than Pyth. But back to the initial concept of Bittensor as you said, Bittensor is more focused on AI.
If I look at the current price of Pyth on Coingecko it is around 0.43 dollars, if it goes up to 1000% that means Pyth coins can reach 4.3 dollars, are you serious?Smaller market caps often mean bigger growth potential, and many crypto oracles could become super successful and directly compete with Link to decentralize oracle services in this market.
Oh, it turns out that Bittensor is also the same competitor for Chainlink and Pyth. Even though Bittensor, after I checked on Coingecko, is ranked 32nd and its market cap value is greater than Pyth. But back to the initial concept of Bittensor as you said, Bittensor is more focused on AI.
It seems yes if seen from the perspective of economic experts because a small market cap can increase the coin's market for several percent. Pyth may still have a small market cap at the moment and later when its market cap is large, Pyth could be on par with the Chainlink coin.If I look at the current price of Pyth on Coingecko it is around 0.43 dollars, if it goes up to 1000% that means Pyth coins can reach 4.3 dollars, are you serious?Smaller market caps often mean bigger growth potential, and many crypto oracles could become super successful and directly compete with Link to decentralize oracle services in this market.
Oh, it turns out that Bittensor is also the same competitor for Chainlink and Pyth. Even though Bittensor, after I checked on Coingecko, is ranked 32nd and its market cap value is greater than Pyth. But back to the initial concept of Bittensor as you said, Bittensor is more focused on AI.
I believe decentralization is key to maintaining transparency and fairness, especially for DeFi and RWA now and in the future. Link has brought many useful solutions to ensure data accuracy but it's not enough for us to rely on in many situations. The involvement of more oracles is necessary and I don't think we should overlook their potential.As far as I know, Chainlink has collaborated with Google. Chainlink X Google. (https://chainlinktoday.com/chainlink-collaboration-with-google-cloud-sparks-exploding-universe-of-hybrid-blockchain-cloud-applications/)
It seems yes if seen from the perspective of economic experts because a small market cap can increase the coin's market for several percent. Pyth may still have a small market cap at the moment and later when its market cap is large, Pyth could be on par with the Chainlink coin.Google used to ban crypto-related content, but now they are actively involved in exploring and supporting the development of blockchain technology. In the past, news about collaborations with Google could be used to pump token prices very effectively, but now it has become quite common, and Google's involvement doesn't guarantee a project's or token's success :)
As far as I know, Chainlink has collaborated with Google. Chainlink X Google. (https://chainlinktoday.com/chainlink-collaboration-with-google-cloud-sparks-exploding-universe-of-hybrid-blockchain-cloud-applications/)
And we all know that Google is a very trusted company all over the world. The effect of this kind of collaboration should be that Chainlink's value will increase even more in the future, and maybe it can continue to move away from Pyth and Bittensor.