If you are a new crypto investor and you think that the balloon is going to pop, you may be wrong. The founder of Chainlink, Sergey Nazarov, thinks that DeFi ecosystem could reach $1T next year.

During the event Ethereal, Summit Nazarov said that “the value locked in DeFi will have another zero next to it in the next year. So if it’s at $70 billion now, it gets to $700 billion. Maybe it gets to $1 trillion. And ignoring it will become impossible.”

Currently, the amount locked in the DeFi projects is $80B. For comparison last year the amount locked in the same protocols was just $1B. The industry is growing faster than expected, making many newbies richer than before. 

Many believe that it has a great future because it solves problems in the traditional financial system via decentralization. Many products allow users to deposit their crypto and earn passive income, borrow a loan, and of course decentralized exchanges. 

Some of the most popular DeFi projects are AAVE, MakerDAO, and Uniswap. Last week Uniswap launched its v3 which will make the platform much easier to scale. 

That Nazarov is shilling for DeFi shouldn’t come as a surprise, given how deeply he’s invested in the space: Chainlink provides data to many of these applications through oracles, which are tools that funnel external (off-chain) data onto a blockchain.

Today the Chainlink’s native token, $LINK, is the 11th most valuable cryptocurrency. 

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