LINE is a Japanese messaging application and is regarded as one of the fastest growing mobile messengers. The application grew tremendously especially after WhatsApp was acquired by FaceBook – mainly due to the privacy concerns users have with FaceBook. LINE is now used as one of the go-to privacy-centered messaging applications. Although LINE is a messaging application, it is so much more than that. The firm behind the application is vying to create a whole economy based on its ecosystem.
The Link token – not to be confused with Chainlink – operates with the ticker LN plays a vital role in the goal of the LINE ecosystem. In this guide, we will delve deeper into what the cryptocurrency actually is and how does the LINE ecosystem work.
What is Link?
Overshadowed by its popular namesake, Chainlink, Link token is working towards establishing its own rank in the cryptocurrency market. Link crypto powers the ecosystem of LINE. The firm behind the application launched its propriety blockchain LINE is August 2018 with Link as the native token. The cryptocurrency was launched as a rewards system for users of the application.
LINE has more than 84 million users in Japan alone and the network launched the token to be distributed amongst its users in order to incentivize its usership. Users can earn Link Rewards by utilizing the digital services of the application. The Rewards, in turn, can be exchanges for the cryptocurrency. The token is working towards building the ecosystem of LINE where users and services are enabled to grow together.
Is LN a good investment?
Link token has had phenomenal performance during the bull run of 2021 which has helped the token under the spotlight. The cryptocurrency has been relatively stable below the $30 mark before 2021. However, it achieved an all-time high of $324 during April, 2021 and while the market corrections were brutal, LN token has come a long way from its price pre-2021. At the time of writing, the cryptocurrency stands at a price level of $138 and it has stayed above $100 after the market corrections subsided.
The technical indicate a bullish future for the cryptocurrency especially with its strong fundamentals. According to the estimates of Wallet Investor, Link is expected to operate at a price level of $242 in a year’s time while the five-year projection places it at $664. Digital Coin Price has similar bullish projections for the cryptocurrency and predicts a price of $506 by 2026.
