“The Sky’s The Limit” – Cryptocurrency Now Prepares to Quake Wall Street with Billion Trillions After Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Litecoin, Solana, Tron, Polygon Price Boom

Bitcoin BTC, ethereum, XRP XRP and other major cryptocurrencies are currently trading sideways despite the predictions of the CEO of cryptocurrency company BlackRock.

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The price of bitcoin has doubled since the beginning of 2023, pushing the combined market of bitcoin, ethereum, XRP, and cryptocurrencies past $1 trillion (with China’s “massive” explosion on the horizon).

Now, a well-respected crypto developer has explained how he sees the blockchain industry growing “very, very quickly into trillions of dollars” as the giants of Wall Street converge on blockchain technology.

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Cryptocurrency Market – Including major Bitcoins, Ethereum, XRP, BNB, Cardano, Dogecoin,… [+] solana, tron, and polygon – prepare for a multi-trillion dollar Wall Street earthquake.

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“You have the public blockchain and internet contracts defined primarily by DeFi [decentralized finance], and you have this banking chain world, which I think will be primarily defined by asset tokens in the real world. The next phase will be to intertwine these two worlds, Sergey Nazarov, co-founder of blockchain network Chainlink, told The Block on the sidelines of the Ethereum ETH Community Conference in Paris.

Nazarov expected Wall Street banks to build their own blockchains and stablecoins across chains, using chainlink’s Cross-Chain Interoperability Protocol (CCIP), which is currently in early access, to connect them. The protocol is designed as an “open-source global standard for decentralized messaging, data, and token movements between blockchains,” according to the Chainlink Foundation.

“When that happens, other than efficiencies and gains for each of these groups, you will see the blockchain industry as a whole, I think growing very, very quickly in the trillions of dollars,” Nazarov said.

CCIP has been piloted with Swift, the global interbank messaging network, which potentially allows cryptocurrency transfers across public and private chains via Swift’s messaging infrastructure.

Nazarov said that Linkchain — a network of nodes that provide data and information from sources outside the blockchain to smart contracts on the blockchain — is “preparing for a pilot launch.” If we go to a real value pilot moving between different bank chains, I mean, then, the sky’s the limit, Nazarov said.

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Bitcoin price has recovered somewhat from its crash in 2022, along with other major cryptocurrencies… [+] Ethereum and XRP are going up with it.

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The cryptocurrency price crash in 2022, which wiped out about $2 trillion from the combined Bitcoin, Ethereum, XRP and cryptocurrency market, has spooked investors who have rushed into cryptocurrencies, echoing previous market cycles over the past decade.

However, last month, the world’s largest asset manager, BlackRock, launched a race to an American exchange-traded fund (ETF), showing continued interest from Wall Street during the Bitcoin and cryptocurrency price winter of 2022.

“This time is the first time after the four cycles that I’ve been through [bank’s haven’t lost interest after the price crash] Nazarov said, referring to the French banking giant, Societe Generale, which recently developed a stablecoin and placed it on the public blockchain.

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