Chainlink Founder Predicts Cryptocurrency Market Cap to Hit $10 Trillion

IconCryptoNewsTerminal Staff30 May, 2024

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Chainlink Founder Predicts Cryptocurrency Market Cap to Hit $10 Trillion

According to the Daily Hodl, the founder of decentralized oracle network Chainlink (LINK), Sergey Nazarov, has predicted that the cryptocurrency industry is in its early-to-mid growth phase and could reach a $10 trillion market cap as traditional finance moves into crypto. He added that this potential growth has attracted attention from large institutions like Blackrock and that there is still much room for further growth. Nazarov's prediction is based on the increasing adoption of cryptocurrencies by businesses and institutions, as well as the development of new use cases for blockchain technology. The growth of decentralized finance (DeFi) and non-fungible tokens (NFTs) has also contributed to the increasing interest in cryptocurrency, driving the market cap of the industry to its current all-time high. While some analysts are more cautious in their predictions, Nazarov's optimism is shared by many in the cryptocurrency community. The industry has seen significant growth in recent years, with the total market cap increasing by over 1000% since 2017. If Nazarov's prediction is correct, the cryptocurrency industry could continue to grow exponentially in the coming years.

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