Sergey Nazarov, the co-founder of blockchain oracle Chainlink (LINK), believes that the cryptocurrency industry is still in the early to mid-stage of its growth. He predicts that the total market capitalization of the crypto market could increase by nearly four times its current level.

Nazarov explains that when the crypto industry surpassed $200 billion, it set itself on a path towards becoming a large global market that would continue to expand. The market is now valued at over $2.5 trillion, and Nazarov personally believes it could reach $10 trillion due to increasing demand from consumers, retail investors, and hedge funds. He also mentions that large institutions like BlackRock are showing interest in this market.

According to Nazarov, the future growth of the crypto and blockchain industry beyond $10 trillion will largely depend on the value locked in traditional financial institutions. He envisions these institutions generating their own blockchain and transferring their assets onto it, which will significantly increase the market cap of the crypto industry, potentially reaching hundreds of trillions of dollars. He emphasizes that the industry is still in the early to mid-stage of its development.

Nazarov points out that the interest shown by legacy asset managers is an indicator of the bright future ahead for the crypto industry. Even at $2.5 trillion, the market is already attractive enough for large asset managers to invest in resources and develop financial products for it. This signifies that the market still has significant room for growth.

It’s important to note that the opinions expressed by The Daily Hodl are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl also does not recommend buying or selling any cryptocurrencies or digital assets and is not an investment advisor.