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Sunday, February 28, 2021

Poll Shows Crypto Investors Expect ChainLink To Be Top Performing Altcoin in 2020

The altcoin known as Chainlink had a stellar year last year in 2019, outperforming the rest of the entire crypto market by a wide margin, while many other assets fell to new lows.

However, according to a new poll, crypto investors at large expect the altcoin to be a top-performing asset once again this year. Will lightning strike twice for altcoin known as Chainlink?

Chainlink Tops Poll, Expected To Be Top Performing Crypto in 2020

With 2019 now in the rearview mirror, in hindsight, we can see which assets were the top performers across the crypto market. While exchange-based utility tokens dominated the best ROI from cryptocurrencies in 2019, one particular altcoin – Chainlink – topped all other crypto assets, including Bitcoin.

Chainlink closed out the year with nearly a 500% return on investment. Bitcoin, for comparison, only ended the year at roughly a 100% return.

Related Reading | Chainlink, Exchange-Related Tokens Dominate Crypto ROI Last Year

That trend is expected to continue, as a new poll asking crypto investors which altcoins they expect to be top performers in 2020 have been dominated by the altcoin Chainlink.

Although a dozen or so altcoins are listed by name in a Twitter poll, four main choices can be selected to vote, including Chainlink, Basic Attention Token, Binance Coin, and Cardano. Why these four altcoins were chosen is anyone’s guess, however, they are among the most promising and hyped coins across the crypto market.

Chainlink captured the bulk of the votes with over 70% of respondents expecting another stellar year for the altcoin project. Basic Attention Token, the utility token powering the Brave browser and new internet economy, took just 10% of the vote. Cardano was in second with 12% of respondent’s votes, while Binance Coin was in the last place capturing only 5% of the total votes.

Binance Coin being lower than Basic Attention Token or Cardano is surprising, as Binance Coin was yet another one of crypto’s top performers of 2019, much like Chainlink that took the top spot on the poll.

Before LINK Is Ready For Liftoff, Beware of Further Downside First

If Chainlink has another year like 2019, it could very well find itself in the top ten cryptocurrencies by market cap alongside Bitcoin, Ethereum, Litecoin, Ripple, and other mainstay crypto projects, bringing it invaluable additional visibility and familiarity for new investors.

Only time will tell if Chainlink has another strong performing year this year, but for now, the crypto asset may see some downside as the Tom Demark TD9 Sequential has triggered a sell signal on LINK/USD daily price charts.

Related Reading | These Five Altcoins Crushed Bitcoin’s 2019 Returns

However, given the bullish sentiment surrounding Chainlink, any downside is likely to be short-lived and the altcoin will rally once again.

Featured image from Shutterstock

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