Sergey Nazarov, the co-founder of blockchain oracle Chainlink (LINK), believes that the cryptocurrency industry is currently in the early to mid-stage of growth. Nazarov predicts that the total market capitalization of the crypto industry could increase nearly fourfold from its current level.
Nazarov states that once the crypto industry surpassed $200 billion, it embarked on an inevitable path towards becoming a significant global market that would continue to expand. Currently valued at over $2.5 trillion, Nazarov personally believes that the market could reach $10 trillion based on the demand from consumers, retail investors, and hedge funds. He also notes that large institutions like BlackRock are becoming increasingly interested in this market.
The Chainlink co-founder asserts that the traditional finance industry holds the key to driving the total market cap of the crypto industry beyond $10 trillion. Nazarov explains that the additional growth will come from unlocking the value held within traditional financial institutions. By bringing these assets onto the blockchain, the crypto industry could potentially reach hundreds of trillions of dollars. Nazarov emphasizes that the industry is still in its early to mid-stage of development.
According to Nazarov, the interest shown by legacy asset managers is a positive indication of what lies ahead for the crypto industry. He believes that the current market size of $2.5 trillion is already significant enough to attract the attention of major asset managers who are investing in resources and developing financial products for this market. Nazarov sees this as a promising sign, as he believes there is still plenty of room for growth in the sector.
Disclaimer: The opinions expressed in this article are not investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are done at the individual’s own risk, and any resulting losses are their responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it provide investment advice. Please note that The Daily Hodl participates in affiliate marketing.
