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.
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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