Chainlink co-founder Sergey Nazarov argued that the recent decline in the crypto market is different from previous bear markets. The market cap fell 44% from its October peak of 4.4 trillion dollars, losing 2 trillion dollars, but there were no major institutional collapses like FTX or widespread systemic risks. Nazarov emphasized that the sector has become more resilient to volatility.
Sergey Nazarov’s Emphasis on Bear Market Difference
According to Nazarov, even assets like LINK detailed analysis were not affected by systemic collapses in this cycle. Although the market cap loss is large, the infrastructure remained solid. This highlights the role of Chainlink’s oracle services.
300% Growth in RWA Tokenization
According to RWA.xyz data, the on-chain value of tokenized RWAs has increased by 300% in the last 12 months. On-chain perpetual contracts for traditional commodities are growing without slowing down. This growth shows that it provides value independent of crypto prices.
Tokenized RWA onchain value has skyrocketed over the past year. Source: RWA.xyz
LINK Price: 8.69$ and Technical Analysis
Chainlink (LINK) price fell 67% from the October peak and 83% from the 2021 peak, dropping below 9 dollars. Current: 8.69$, 24h -1.81%. RSI 30.34 (oversold), Supertrend bearish, EMA20 10.075$.
| Supports | Price | Score | Distance |
|---|---|---|---|
| S1 | 8.3391$ | 75/100 ⭐ | -4.15% |
| S2 | 7.4327$ | 71/100 ⭐ | -14.57% |
| Resistances | Price | Score | Distance |
|---|---|---|---|
| R1 | 9.3991$ | 70/100 ⭐ | +8.04% |
| R2 | 8.8400$ | 65/100 ⭐ | +1.61% |
S1 strong support, could give recovery signal with RSI.
Institutional Confidence: Binance and Investments
Recent news confirms resilience. Binance SAFU Fund added 4225 BTC (299.6M$) bringing the total to 10455 BTC (734M$). Garrett Jin invested 5000 BTC (351M$). Confidence in BTC futures is increasing, systemic risk low.
Analyst Consensus: Weakest BTC Bear Scenario
Bernstein analyst Gautam Chhugani and BTSE COO Jeff Mei stated that this bear market is the weakest Bitcoin bear scenario in history and stems from non-crypto reasons. Chainlink’s RWA integration preserves long-term value.
The sector is maturing; if BTC detailed analysis recovers, LINK could test R1.
Source: https://en.coinotag.com/nazarov-this-bear-market-is-different-link-resilient
