Chainlink co-founder Sergey Nazarov shared his view on the future of Real World Assets (RWA) tokenization, predicting that this industry will surpass the entire crypto market.
Potential of Real World Assets (RWA) Tokenization
Sergey Nazarov, co-founder of Chainlink, expressed his belief in the immense potential of the Real World Assets (RWA) industry to eventually exceed the size of the entire cryptocurrency market. In his recent statement on platform X, he noted the potential inclusion of gold-backed coins, stablecoins, and other commodity-based assets as part of RWAs. This highlights their significant potential to add further value to blockchain technology, he added. Nazarov also emphasized that Chainlink's technology is strategically positioned and extensively utilized within the RWA sector, predicting it will emerge as a global standard for RWA tokenization.
Chainlink Market Activity
The Chainlink whale activity has been notably rising recently. As reported, a dormant Chainlink whale recently woke up after 595 days of inactivity, withdrawing LINK tokens worth billions of dollars from the cryptocurrency exchange Binance. According to the on-chain data, the dormant whale withdrew a staggering 363,814 LINK, worth $3.81 million last month. Additionally, Chainlink's social media discussions peaked earlier this week, signaling strong interest in the asset. However, despite this surge, LINK has experienced a decrease in total holders and is currently priced at $10.22, down 18% from its local peak on August 18.
Oracle Market Competition
Chainlink continues to face growing competition from other market players such as the Pyth Network. The total value secured (TVS) on the Pyth Network has surged by 46x in the last nine months, reaching $4.67 billion. However, Chainlink remains the top provider with a TVS of $20.113 billion, grabbing a 46.46% market share. Additionally, the decentralized oracle space is becoming even more competitive with players like WINkLink and Chronicle also grabbing sizeable market shares.
Sergey Nazarov is confident that Real World Assets tokenization will become a significant frontier in blockchain technology, facilitating the integration of traditional finance with decentralized finance.
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