It has a real life use case and that´s most important. Besides, to have a special kind of person to put in front of your coin has already wokred out pretty well for Tron or Litecoin.

I just wrote an article about Chainlink that sums up the situation. In case someone wants to read it: https://double-edge.net/2020/08/20/coin-predictions-crypto-forecasts-part-1-chainlink/   

Well if Craig wright says it is a scam then you best believe it is one cause he should know.

https://cryptonews.com/news/defi-dexs-stablecoins-chainlink-all-scam-says-craig-wright-7572.htm

There are too many projects that could be in the top 10 or the top 100 and after a while, we may not see them again. This year, maybe a group of people pumped ChainLink as well as pumped altcoins such as Dragonchain, Oyster, Odyssey, Delta ...
It is difficult for this market to know which cryptocurrencies will pump next.
ChainLink cannot pull another crypto down to it, but Bitcoin itself, there should be many altcoins that will be used this year but Bitcoin is not allowed to use.

Do you mean to stop hoping for this market?
I think there's a lot of hope as there are many good projects that are running quietly and they are in the process of building code. We need to look back that people are so important in profits that they ignore the rules of the market and create bad things like pump and dump. That makes people lose confidence in the market, I always appreciate the technology and uniqueness of the projects but most of them do not work seriously to the end.

None of the altcoins deserve their current market cap valuation. What does chainlink say it does? Provide feeds from centralized servers to blockchains. So it copy-pastes data from internet sources into blockchains.
My question is why would something like that be valued at 5 Billion USD market cap. And why it needs to have a token anyway?

As the rest overvalued altcoins I think that it only went there because of the DeFi nonsense and the greed of investors. They pay already but price will probably go a lot lower.

Despite ongoing correction, I believe that we are on the beginning of the bull market. And further we go in that direction - more and more shitcoins will emerge. Remember 2017 - there was a ton of coins nobody remember anymore, but than - XRP is still in top 10. The faith of Chainlink will be determined in next bear market.

Some people make use of these defi joke coins after all

https://cointelegraph.com/news/jackpot-user-turns-200-into-250k-thanks-to-a-buggy-defi-protocol

https://twitter.com/A_mplify/status/1302852245059330048

He used an exploit during the rebase process of what happened to the previous bug reported from the yam project to pull a dupe on the chads.
Pretty clever of him to do it just at the right time.

IT is the biggest shitcoin. Have you seen the latest inquest about how much of this LNK has been consistently dumping on to exchanges from one address.
They have determined $258 million usd are in possession and have been dumping since it's inception.
This wallet has recently "released" hundreds of thousands chainlink tokens onto exchanges and was found that the one who was FUDDING because of a short they were holding on an exchange wanted it to be dumped back to $0.50 again.
Follow up on Zeus capital and see what their story into this chainlink saga is all about.
You will see what market manipulation is all about.

Defi is but a meme money maker.
https://www.coindesk.com/money-reimagined-memes-mean-money

Based seems to be promising project for all this defi nonsense put into one site...

"Based.Money is a project of the Ghouls, a loose consortium of crypto developers, artists, designers and meme makers. Friday night, the outfit will release its newest project since BASED, the rebasing game dropped this summer during the boom of Weird DeFi.
Based.Money is a game that riffs on Ampleforth’s rebasing mechanic, where it makes a daily readjustment in the supply of BASED tokens, adjusting the amount in everyone’s wallet. It’s a game of optimizing for the right time to get in and get out. "
source: https://www.coindesk.com/based-money-moonbase-defi-fair-launch-movement
If this is what your interested in.

Sergey Nazarov creator of favorite neighbourhood altcoin ChainLink:
https://decrypt.co/85641/chainlinks-sergey-nazarov-predicts-more-institutional-defi-in-2022

Back in the cryptonews after being MIA for the longest time.
He does look like in the above photo he belongs on a back of milk carton.