Chainlink co-founder’s 2 reasons this bear market feels different

Sergey Nazarov, the co-founder of Chainlink, has identified two primary factors that distinguish the current cryptocurrency bear market from previous cycles. First, Nazarov points to the unprecedented level of institutional involvement. Unlike past market crashes that were driven almost entirely by retail speculation, the current era is defined by global financial giants integrating blockchain technology and launching spot ETFs. Second, he emphasizes the shift toward ‘real-world utility’ through the tokenization of traditional assets. Nazarov argues that the industry is no longer just about volatile tokens but is now focused on bringing trillions of dollars in real-world assets (RWAs) onto the chain. These two shifts—institutional adoption and asset tokenization—suggest a maturing ecosystem that possesses stronger fundamental support than in any prior downturn.

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