The Chainlink price has risen by 4% in the past 24 hours, with the altcoin jumping to $13.87 as it prepares to hold an airdrop of 100 million Space and Time (SXT) tokens tomorrow.
LINK remains down by 5% in a week, and while the token sits on a healthy 29% increase in a month, it’s also down by 4% in the past year.
But the incoming SXT airdrop has boosted bullishness for Chainlink, given that the Chainlink ecosystem has received a total allocation of 200 million SXT, which will become available to stakers of LINK.
This could help fuel growth of Chainlink’s own platform, which will also benefit in the longer term from its connection to the new Space and Time platform.
Chainlink Price Prediction: SXT Airdrop, Whale Buys & What Comes Next for LINK
Chainlink announced the launch of its Chainlink Rewards program on Monday, with the first event being the aforementioned airdrop of 100 million SXT, which is 2% of the token’s overall supply.
Eligible LINK takers can make a claim to participate in the airdrop once the program’s official webpage goes online tomorrow, with claims open for 90 days and based on a snapshot taken on March 31.
A second tranche of 100 million SXT will become available at some undecided point in the future, with similar conditions applying.
The listing of the SXT token (on Binance, Bitrue and Bitget) tomorrow could be taken as a threat to Chainlink and its position, given that the Space and Time platform is a decentralized data network.
Yet Chainlink was instrumental in the development of Space and Time, with the latter taking part in Chainlink’s Build program, and with its platform integrated with Chainlink so that it can process certain data queries.
As such, Space and Time’s growth should help feed into Chainlink, which can only be positive for LINK going forward.
Source: TradingViewAnd its chart today shows the coin regaining some momentum, with more gains likely incoming in the near term.
What’s particularly bullish is that LINK’s 30-day average (orange) is on its way up to the 200-day (blue), with a crossover likely signalling a breakout to a higher level.
We’ve also seen LINK’s RSI (purple) recover in the past couple of weeks, with more improvement certainly possible before the coin enters an oversold position.
Of course, things will depend on the wider market, with the ongoing tariff issue still unresolved.
But the Chainlink price has the potential to reach $20 by next month, and could rise as high as $30 by Q4.
This New Altcoin Could Outshine Chainlink with Massive Presale Gains
As good as Chainlink looks, there are other altcoins that could also do a good job of beating the market in the near future.
Some of these are presale coins, which can generate enough momentum during their sales to rally big once listed on exchanges.
One of the newest and most promising examples in this respect is Bitcoin Bull (BTCBULL), an ERC-20 token that has now raised $5.3 million in its increasingly popular sale.
Bitcoin Bull is a deflationary crypto that has tied its tokenomics to Bitcoin’s price.
It comes with a hard cap of 21 billion BTCBULL, yet its protocol will burn a portion of this supply every time Bitcoin reaches a new $25,000 milestone, beginning with $125,000.
Just as bullishly, BTCBULL will reward holders with Bitcoin (BTC) airdrops at each $50,000 milestone, starting from $150,000.
This could make BTCBULL a highly profitable token to hold, especially when owners will be able to stake it for a passive income.
Investors can join this sale by going to the Bitcoin Bull website, where BTCBULL now costs $0.0025.
This will rise again in a couple of days, and will continue to rise until the sale ends, meaning that traders should act quickly.
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