Markets
Total Crypto Market Cap Is Poised to Rise to Over $10,000,000,000,000, Says Chainlink Co-Founder – Here’s How
The co-founder of blockchain oracle Chainlink (LINK), Sergey Nazarov, is saying that the crypto industry is in the “early to mid” phase of growth.
According to For the co-founder of Chainlink, the total crypto market capitalization could rise almost four times from its current level.
“The crypto industry, in my opinion, when it surpassed $200 billion, entered an inevitable and inevitable trajectory to become a huge global market that would continue to grow. It is now over $2.5 billion in value and I personally think it could reach $10 billion based on consumer, retail and hedge fund demand. And I think that’s the market that big institutions like BlackRock are interested in.”
Chainlink co-founder says the traditional finance industry holds the key to lifting 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 that is locked up in traditional financial institutions. And that’s where the process of generating your own chain, putting these assets on the chain, will take the crypto industry to go from $10 trillion to hundreds of trillions. [of dollars]. Therefore, we are still in the early or middle stage of the industry’s development.”
According to Nazarov, the interest shown by legacy asset managers is a sign of what the future holds for the crypto industry.
“Even at $2.5 trillion, it is large enough to justify the largest asset managers investing in resources and building financial products for that market. So I think they are interested in this market, which is a very good sign because this market still has, I think, growth multiples left.”
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