Sergey Nazarov, the co-founder of Chainlink, argued on X that the on-chain shift of real-world assets (RWA) is accelerating independently of Bitcoin prices, marking a key feature of this cycle with improved risk management by institutions and standalone growth for RWA. He contrasted this cycle with past crises caused by FTX and other lenders, noting there have been no large-scale institutional failures despite asset declines and liquidity squeezes. Nazarov also highlighted a weakening correlation between crypto prices and on-chain migration of RWAs.
He identified three engines driving future growth: the intrinsic value of RWA on-chain and perpetual futures, institutional inflows driven by technical convenience, and rising demand for supporting infrastructure. He stated that DeFi’s 24/7 permissionless market will accelerate institutional adoption, and emphasized that Chainlink’s role as a standard infrastructure is expanding.
Chainlink currently accounts for more than 70% of the DeFi data market, and collaborates with data providers such as S&P and ICE to broaden its footprint in institutional RWA markets. Nazarov noted that Chainlink Runtime Environment (CRE) can integrate multiple blockchains, off-chain systems, data sources, and AI into a single workflow.
He projected that the on-chain value of RWA could surpass the overall crypto market, driving mainstream adoption. Nazarov said RWAs will be a core engine for mainstreaming crypto, attracting more capital and benefiting the entire asset class, with the current trend potentially altering the global financial system for the better.
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