Chainlink Co-founder: Two Key Differences Between the Current Crypto Market Downturn and Previous Bear Markets
PANews reported on February 10th, citing Cointelegraph, that Chainlink co-founder Sergey Nazarov stated that the current crypto market downturn differs from previous bear markets in two key ways. Nazarov pointed out that this cycle has not seen large-scale institutional risk outbursts or systemic risk events like those experienced by FTX, indicating that the industry's ability to cope with volatility has improved. Simultaneously, the tokenization of real-world assets and the on-chain perpetual contract market for traditional commodities continue to grow, suggesting that these innovations possess intrinsic value independent of cryptocurrency price fluctuations.
Nazarov believes this proves that the value of on-chain real-world assets is not entirely tied to cryptocurrency prices, but rather grows based on their unique intrinsic value. He predicts that if this trend continues, the total value of on-chain RWA will eventually surpass that of cryptocurrencies, fundamentally changing the industry structure.
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