Market
4 Crypto Predictions from Chainlink CEO Sergey Nazarov
Sergey Nazarov predicts that the total value locked (TVL) in Real World Assets (RWAs) could surpass that in crypto by 2027. The Chainlink CEO attributes this expected capital inflow to increasing interest from the traditional finance (TradFi) sector.
Tokenized RWAs have become one of crypto’s most significant trends in 2024, drawing substantial attention from major Wall Street firms.
Tokenized RWAs to Make TradFi DeFi’s Biggest User
Sergey Nazarov predicts that traditional finance (TradFi) will generate significant interest in decentralized finance (DeFi) protocols, positioning TradFi as DeFi’s largest user. This integration, according to the Chainlink CEO, could lead to clearer, more streamlined, and value-driven regulations.
“Real-world assets have already surpassed the total value locked in DeFi, and it’s still just a small percentage of what can be tokenized. I believe real-world assets will surpass the total value of cryptocurrencies in the next one to three years. Our industry will be defined by both the real-world asset blockchain format and the cryptocurrency format, fundamentally changing how people perceive our space and what it delivers,” Nazarov states.
Nazarov also believes that RWAs will drive the adoption of Central Bank Digital Currencies (CBDC), boosting on-chain purchasing power. This shift would attract more value into DeFi protocols and tokenized RWA systems.
Read more: Real World Asset (RWA) Backed Tokens Explained
He further anticipates the emergence of more blockchains, driven by lower costs and ease of development. These chains would be seamlessly interconnected, with Chainlink’s Cross-Chain Interoperability Protocol (CCIP) playing a key role in simplifying app development. Nazarov envisions this interconnectedness facilitating compliance, enabling a larger share of value to flow through regulated transactions.
Additionally, Nazarov predicts that governments will increasingly embrace blockchains, with the trend starting in Asia, followed by the Middle East — regions actively modernizing their infrastructure.
“I foresee a corridor of blockchain-based activity between the Middle East and Asia, involving real-world assets, commodities, and various other transactions across these regions. Both areas are actively reinventing their infrastructure and seeking trust-minimized ways to transact with each other. These developments might not be obvious to everyone right now, but I believe they are very likely to happen,” the Chainlink CEO adds.
Real World Assets Attract Institutional Interest
Tokenized RWAs have taken the industry by storm, progressively attracting institutional interest from major players like BlackRock, Grayscale, and Franklin Templeton. The sector’s market cap recently surpassed $10 billion, showing the progress RWAs have made in connecting traditional finance (TradFi) with DeFi.
Research from OurNetwork highlights that the private credit market is valued at $8.1 billion, while tokenized treasuries stand at $1.9 billion. Other tokenized asset classes remain under $1 billion.
“The private credit market currently stands at $8.1 billion while that of tokenized treasuries is $1.9 billion. The remaining tokenized asset classes fall under $1 billion,” research from OurNetwork highlighted.
Read more: What is Tokenization on Blockchain?
As shown in the chart, BlackRock’s BUIDL fund has emerged as a leader in the RWA sector. The fund continues to see rising dividend yields, indicating growing interest from institutional investors. DeFi protocols like Ondo have started incorporating BUIDL into derivative products, broadening its use case.
In addition to BlackRock, Franklin Templeton has positioned itself as a key player by deploying its Nasdaq-listed Onchain US Government Money Fund (FOBXX) on Arbitrum and Avalanche. Grayscale also operates a tokenized RWA fund on Avalanche while managing a diverse portfolio of crypto investment trusts.
Similarly, Goldman Sachs is exploring tokenized treasuries, and State Street is collaborating with Swiss crypto firm Taurus on an RWA tokenization project.
However, despite growing interest, tokenized real-world assets face challenges around token legitimacy. Legal recognition in courts and smart contract security remain significant hurdles that could slow the adoption of tokenized RWAs in both traditional and decentralized finance sectors.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Cardano (ADA) Price Hits 41% Weekly Growth, $1 Target in Sight
Cardano (ADA) price has surged 41.89% in the last seven days, signaling strong bullish momentum in the market. The uptrend remains strong, supported by key technical indicators like the ADX and Ichimoku Cloud, which point to sustained positive sentiment.
However, signs of consolidation and narrowing gaps in short-term indicators suggest that the rally could face challenges if buying pressure weakens.
ADA Current Uptrend Is Still Strong
Cardano DMI chart shows an ADX of 42.7, indicating a strong trend. The metric has remained above 40 since November 7. This high ADX value confirms the robustness of ADA ongoing uptrend, signaling solid momentum behind the recent price movements.
With the positive directional index (D+) at 21.3 and the negative directional index (D-) at 11, bullish pressure continues to outweigh bearish activity, further supporting the upward trajectory.
The ADX measures the strength of a trend without considering its direction. Values above 25 indicate a strong trend, while those below 20 suggest a weak or nonexistent trend. With an ADX at 42.7, ADA is clearly in a strong uptrend, showing significant market confidence.
The gap between D+ and D- reinforces the bullish dominance, suggesting that ADA price could sustain its upward movement if current conditions persist.
Cardano Ichimoku Cloud Shows An Important Signal
The Ichimoku Cloud chart for Cardano indicates a generally bullish trend, as the price remains above the cloud (Kumo). The Tenkan-sen (blue line) and Kijun-sen (red line) are relatively flat, showing signs of consolidation after ADA’s recent rally.
While the price is still trading above these lines, the narrowing gap between the price and the Tenkan-sen suggests weakening short-term momentum.
The green cloud ahead signals potential support for ADA uptrend, but the current consolidation phase highlights the need for sustained buying pressure to maintain this momentum.
If the price drops below the Kijun-sen or approaches the cloud, it could signal a possible shift toward bearish sentiment.
ADA Price Prediction: Can It Reach $1 In November?
If Cardano (ADA) maintains its strong uptrend, it could test the resistance at $0.85. Breaking this level could pave the way for further gains, with the potential to reach the $1 threshold, marking a 20% rise from current levels and the highest price for Cardano since April 2022.
However, as indicated by the Ichimoku Cloud, a potential reversal could be on the horizon. If bearish momentum takes over, ADA price could face significant downward pressure, potentially dropping to $0.51.
If this support fails, the price could decline further to $0.32, representing a steep 59% correction. This highlights the importance of the current support and resistance levels in determining ADA’s next direction.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Why SUI Network Outage Did Not Cause a Price Crash
Earlier today, the Layer-1 blockchain Sui experienced a two-hour blackout, halting block production and rendering transaction processing impossible. This network outage led to a slight dip in SUI’s price, falling from $3.73 to $3.64.
Despite concerns of a more significant decline, the price stabilized after the project announced that the network was fully restored and operational.
Sui Comes Back Online, Altcoin Still in Good Position
Around 10:52 UTC, web3 security firm ExVull disclosed that a DOS bug caused the Sui network outage. Fully known as a Denial-of-Service (DoS) attack, the bug” refers to a software attack that overwhelms a system with excessive traffic or requests, causing it to become unavailable to legitimate users by crashing or severely slowing its functionality.
“After our analysis, it was found that the Sui Network node occur DOS due to integer overflow,” ExVul stated.
Following this development, several exchanges halted SUI transactions as the price also dipped a little. However, nearly two hours later, the project updated its community, saying that validators had assisted in resolving the issue.
“The Sui network is back up and processing transactions again, thanks to swift work from the incredible community of Sui validators. The 2-hour downtime was caused by a bug in transaction scheduling logic that caused validators to crash, which has now been resolved,” it explained.
Meanwhile, data from Messari showed that, amid the outage, the Sharpe ratio remained positive. The Sharpe ratio is a key measure of risk-adjusted return, indicating how much excess return an investment generates relative to its volatility.
It helps investors assess whether the returns of a riskier asset justify the risk taken. A higher ratio signifies better risk-adjusted performance. Typically, when the ratio is negative, it means that the risk might not be worth the reward.
However, since it is positive for SUI, it indicates that accumulating the altcoin around its current value could still yield positive returns.
SUI Price Prediction: Run Above $4
On the daily chart, SUI continues to trade within an ascending channel. An ascending channel, also called a rising channel or channel up, is a chart pattern defined by two parallel upward-sloping lines.
It forms when the price shows higher swing highs and higher swing lows, indicating an ongoing uptrend. Furthermore, the Chaikin Money Flow (CMF) has increased, suggesting that buying pressure has outpaced distribution.
If this continues, SUI’s price could climb above $4. However, if a Sui network outage occurs again, this might not happen. In that scenario, the value could drop below $3.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Aptos Partners with Circle and Stripe to Revitalize Network
The Aptos Foundation announced a new partnership with Circle and Stripe, hoping to revolutionize its network functionality. Circle’s CCTP and USDC stablecoin will enhance blockchain interoperability, while Stripe will attract TradFi by simplifying fiat interactions.
Aptos has set ambitious goals with this partnership, but APT’s upward momentum has stagnated.
Aptos Partners with Circle and Stripe
According to a new announcement from the Aptos (APT) Foundation, its network is integrating Circle’s USDC stablecoin and Cross-Chain Transfer Protocol (CCTP). Additionally, Aptos is integrating the payment platform Stripe, generally streamlining fiat-related features. These include on- and off-ramps, payment processing, and TradFi ease of adoption.
“Once the integration is complete, users will be able to seamlessly transfer USDC between Aptos and 8 major blockchains. In addition to USDC and CCTP, Stripe will soon launch its payment services on Aptos, creating a reliable fiat on-ramp to streamline merchant pay-ins and payouts using Aptos-compatible wallets,” the firm claimed via press release.
In other words, Aptos aims to use this partnership to make itself “the ultimate hub for interoperable DeFi.” These companies will approach this goal from both ends: enticing new users and investors while substantially improving the core experience. This partnership marks a new development for Stripe’s integration with crypto.
Indeed, Stripe took a six-year hiatus from cryptocurrency payments, which only ended this April. Since then, however, it’s been engaging seriously with the industry. The firm entered an earlier partnership with Circle this June, hoping to promote USDC adoption. Additionally, Stripe acquired Bridge, a crypto payment platform, last month.
For its part, Aptos is undertaking a recovery process. Despite a major price spike in March, it suffered a lingering decline for most of 2024. The asset began regaining steam in October, and the November bull market has brought increased optimism. Still, its gains have stagnated for about a week.
This partnership between Aptos, Circle, and Stripe may help APT regain its forward momentum. These ambitious new features will greatly add functionality and accessibility to Aptos’ network. Still, the firm has set a very ambitious goal for itself: to solidify “its place as a leader in interoperable DeFi and enterprise-grade blockchain technology.” Only time can tell its success level.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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