Markets
Total Crypto Market Cap Expected to Reach Over $10,000,000,000,000, Says Chainlink Co-Founder – Here’s How
The co-founder of the blockchain oracle Chainlink (LINK), Sergey Nazarov, claims that the crypto industry is in the “early to mid” growth phase.
According to According to the Chainlink co-founder, the total crypto market capitalization could increase almost four times from the current level.
“In my opinion, when it surpassed $200 billion, the crypto industry set itself on an inevitable and unavoidable trajectory to become a large global market that would continue to grow. Its value now exceeds $2.5 trillion and I personally believe it could reach $10 trillion based on demand from consumers, individuals and hedge funds. And I think this is the market that interests large institutions like BlackRock.
Chainlink co-founder says the traditional financial sector holds the key to pushing the total crypto market cap above $10 trillion.
“I think the remaining growth beyond $10 trillion for the crypto and blockchain industry will have to happen through all the value locked up in traditional financial institutions. And that’s where the process of generating their own chain and putting these assets on-chain will take the crypto industry beyond $10 trillion into the hundreds of billions. [of dollars]. So we are still at the beginning or halfway of the development of the industry.
According to Nazarov, the interest shown by traditional asset managers is a sign of what the future holds for the crypto sector.
“Even at $2.5 trillion, it’s large enough to warrant the largest asset managers investing in resources and creating financial products for this market. So I think they are interested in this market, which is a very good sign because it still has, I think, growth multiples left.
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