Experts discuss Chainlink

Susannah Streeter, senior analyst at Hargreaves Lansdown, said: “Chainlink’s price is driven by speculation by many traders who try to sniff short-term gains instead of believing in its basic long-term use cases.

She added: “In view of such volatility, market competition and the uncertainty surrounding emerging technologies, traders should take an extremely cautious approach and enter the market only with funds they can afford.”

Finder spokesperson Matt McKenna also said: “Chainlink’s price has been following the broader crypto market, which saw a sharp sell-off in May.

“In the past month, it has fallen by about 20%, but it has been showing signs of recovery in the past few days.

“As with all cryptocurrencies, people should be prepared for extreme volatility and very real risks of losing money.”