With all the attention being paid to Bitcoin, Tether and major cryptocurrencies, it is easy to forget about tokens such as Chainlink and other alt-coins that are undergoing development or enjoying a quiet bullish run. Chainlink, which trades under the catchy symbol LINK, has been generating a healthy trading volume in recent days, and this is happening despite the lackluster sentiment being shown towards Bitcoin, which has not been able to recover from a downward spiral trend since late October.

LINK seems to be moving independently from the digital currency markets. This token is not geared towards circulation; its financial purpose is to fund the underlying blockchain development project, which is quite ambitious and has been making recent news headlines. This cryptocurrency, which was modestly launched in late 2017, has been surging since May, and it reached a high of about $4.50 in July. Throughout September and October, LINK dipped below the $2 level, but it has since recovered quite nicely and seems to be headed back towards $4, a level where it could establish support.

The main goal of the development team currently in charge of LINK is to provide the most efficient smart contract system; in other words, LINK is expected to be a major improvement over Ethereum, which is considered to be the most effective and widely deployed blockchain in the world. In June 2019, Google announced its intention to integrate the Chainlink project into its Google Cloud platform. Collaborating with a technology giant such as Google is always good news for blockchain developers, particularly with regard to decentralized applications. The immediate goal sought by Google is to build a Big Data platform that would speed up blockchain analysis and management, and this is where Chainlink fits in.

Cryptocurrency traders who conduct technical analysis believe that LINK could soon return to its all-time high exchange price, and the most bullish scenario calls this token reaching the $5 level later this year. The most bearish projection puts LINK somewhere below $2.06 and $1.72, but many traders think that the vibrant community that has formed around this digital currency will continue to boost its value.