Markets
Total Crypto Market Cap Set to Climb Above $10,000,000,000,000, Says Chainlink Co-Founder – Here’s How
The co-founder of the blockchain oracle Chainlink (CONNECTION), Sergey Nazarov, says the cryptocurrency industry is in a growth phase “from early to mid-stage.”
Second According to the co-founder of Chainlink, the total capitalization of the cryptocurrency market could increase almost four times from the current level.
“In my opinion, the cryptocurrency industry, when it surpassed $200 billion, was on an inevitable trajectory to become a large global market that would continue to grow. It is currently valued at over $2.5 trillion and I personally think it could reach $10 trillion based on consumer, retail and hedge fund demand. And I think the market is what big institutions like BlackRock are interested in.”
Chainlink co-founder says the traditional financial sector holds the key to pushing the total cryptocurrency market capitalization above $10 trillion.
“I think the remaining growth beyond $10 trillion for the cryptocurrency industry and the blockchain industry will have to come through all the value that’s embedded in traditional financial institutions. And this is where the process of them generating their own chain and putting those assets on chain will take the cryptocurrency industry beyond $10 trillion into the hundreds of trillions. [of dollars]. So we are still in an early or intermediate stage of the development of the sector.”
According to Nazarov, the interest shown by legacy asset managers is a sign of what the future holds for the cryptocurrency industry.
“Even at $2.5 trillion it is large enough to justify the largest asset managers investing in assets and building financial products for that market. So I think they’re interested in that market, which is a great sign because I think that market still has growth multiples left.
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