One of the leading banks in the USA Bank of America (BofA), recently chainlink co-founder Sergey Nazarov met at a meeting.
After the meeting of the duo, Bank of America published a report.
In the said report, BofA stated that Chainlink’s new generation of finance, insurance, supply chain, gaming and gambling across the country. blockchain that its use could accelerate its adoption.
Pointing out that the decentralized Oracle network (DON) is rapidly adopted in the ecosystem, BofA also DeFi He also wrote that the total value has grown tremendously.
BofA analysts led by Alkesh Shah noted in the report that DeFi aggregate value (TVL) had grown 313% year-on-year to $203 billion as of February 15.
Analysts said they think Chainlink is the likely driving force behind the growth of DeFi TVL.
Stating that as of February 15, Chainlink oracles secured more than $60 billion in deposits through smart contracts, the bank pointed out that this figure was $7 billion by the end of 2020.
Bank of America analysts also wrote in the report that more than 1,100 projects have benefited from Chainlink’s network.
Other companies such as the Associated Press, AccuWeather, and Sportmonks have also launched Oracle nodes to monetize their data.
Finally, the token of the Chainlink blockchain, of LINK It was stated that the market capitalization is $ 8.1 billion and is the 22nd largest cryptocurrency.
*Not investment advice.