Alvarogll

[Sergey Nazarov @SergeyNazarov]

Cycles are a normal part of the crypto industry, what is important is what those cycles reveal about how far the industry has progressed and what next stage/trends of adoption/value creation will go on to define the industry.

So far this cycle reveals two key things for me:

Firstly, there have been no large risk management failures leading to large institutional failures or widespread systemic risks. In the previous cycle you had FTX and multiple lenders cleaned out through large price drops, this time around I am pleasantly surprised to see none of that or at least none of it at any system wide scale. If the crypto industry and its systems are able to successfully weather large drawdowns in price and liquidity issues then it is a more reliable place to put both retail/client capital and institutional capital. This time has been much better managed than last time.

Secondly, real world asset migration on-chain continues to accelerate regardless of Bitcoin/Cryptocurrency prices, signaling that having real world assets on-chain is not tightly coupled to crpytocurrency prices but provides its own unique value that can grow irrespective of market pricing of Bitcoin or other crypto assets. We have seen RWA issuance continue to grow and we've seen leading on-chain perp markets rival tradfi perp markets for very traditional commodities like silver, especially in periods when trading in permissioned traditional markets became harder or more risky vs trading in on-chain permissionless markets. As more and more RWA data goes on-chain to make perps work correctly for more asset types and as more on-chain value is generated as RWAs themselves, I expect these dynamics to only increase regardless of crypto prices.

These are both very positive signals for the assumptions I have been making about three key trends I am expecting to work together to reshape our industry in the next stage of its growth into mainstream adoption.

Firstly, on-chain perps about real world assets and tokenization of the assets on-chain has unique and durable long-term value which is growing regardless of any other dynamics. It is the value of 24/7/365 markets, on-chain collateral management and on-chain data.

Secondly, institutional adoption of our industry will be driven by the fundamental/technology value it provides, accelerated by access to permissionless/always on markets in DeFi, which will grow massively as a result.

Thirdly, the infrastructure that will make RWAs possible will be experiencing much more demand as more of the real world finds itself on-chain. As more RWAs have to go on-chain as perps via on-chan data or tokenization itself and as those RWAs are increasingly complex in how they need to work on-chain, more systems will need to interface with chains to enable those RWAs.

The first two trends are inevitable market forces that are now accelerating regardless of cryptocurrency prices, that is the real insight I see from this part of the cycle. The third trend is where Chainlink is providing the key global standards/protocols/infrastructure that is needed for providing the data, connectivity and orchestration that accelerates the first two trends.

Data is what allows most RWAs to exist on-chain at all. Market data for on-chain perps e.g. on-chain silver markets, Proof of Reserves for Stablecoins, NAV for Tokenized Funds to operate on-chain and many other examples touching every category of RWAs. Chainlink is the largest provider of data to the leading blockchains by far and is successfully servicing the vast majority of DeFi for all their data needs with 70%+ market share. Our new launches with leading institutional data providers like S&P, ICE and many others put Chainlink in a similar position in the growing institutional RWA world.

Connectivity to both other chains and existing backend/accounting/risk management systems is key for liquidity. The ability to connect to the other chains as a system of record/source of liquidity and to the existing centralized systems of record/sources of liquidity are key for scaling RWA adoption globally. Chainlink is the leading provider of these capabilities to institutions and has been chosen by the leading security teams in Web3 to be their official bridging provider due to a superior reliability/security track record. Chainlink is also the only system that successfully pulls TradFi payments into on-chain transactions across multiple chains, integrating existing sources of liquidity and new sources of liquidity into one interoperability layer.

Orchestration is the process of coordinating multiple systems into one workflow/transaction that defines the core value an application is providing to its users. Coordinating between multiple chains, multiple off-chain systems, multiple market data sources and now multiple AIs is a key function that some system needs to play for the more advanced RWAs to function properly. The Chainlink Runtime Environment seems to be the only environment in which you can currently run a workflow that can coordinate all of these key systems into a single application, already in use by enterprises and with advanced integrations into many key systems. Orchestration has an additional critical component of creating privacy, which there are now new and exciting solutions for being built on CRE. More to come on truly useful privacy as a key feature of CRE's orchestration.

If these trends continue I believe what I have been saying for years will happen; on-chain RWAs will surpass cryptocurrency in the total value in our industry and what our industry is about will fundamentally change. This shift will also lead to cryptocurrency's growth as an asset class that benefits from more capital on-chain, but RWAs is how all of this goes mainstream.

I have never been more excited about our industry's potential to become the way a better version of the global financial system works to benefit all of us.

[Joey Mannarino @JoeyMannarino]

He’s Pablo Iglesias, former Vice President of Spain.

They call him “El chepas” the hunchback.
He stated that he’d love to see a journalist whipped until she bleeds. He loves Sharia law.

He wants to expropriate X, and turn it into a public social media, he has never worked in a private company.

He fucked his female students when he was a political science professor to pass them, and he promoted Irene Montero (She only had experience as a supermarket cashier) after she gave him some blowjobs.

He’s a communist, said he’d never leave his working-class neighborhood in Madrid, and when they made him a minister he bought himself a luxury chalet in an upscale area of Madrid.

He had 3 kids with Irene Montero while advocates for abortions and left her taking care of the children while he opened a bar and travels between Madrid and Mexico running a media outlet like a good feminist.

Now “El Chepas” lives the life of the wolf of Wall Street while preaching communism for others from a millionaire mansion.

Don't be like Pablo Iglesias.

[Willy Tolerdo @WillyTolerdoo]

ESTOY LLORANDO
🤣🤣🤣🤣🤣

[Juanda Palacios 🇪🇸 @JuandaRM7]

Sencillamente, HISTORIA de este bendito país 🐐

[naiive @naiivememe]

Me celebrating Bitcoin hits 109K in 2025

[Iker Jiménez @navedelmisterio]

Todos pudimos ser intoxicados por las mismas fuentes acerca de un sitio al que no se podía acceder. Y muchos informamos. Solo yo me he disculpado. Otros borran. Han intentado dejarme como el bulero del parking en operación coordinada.
Pero aquí la verdad. Un abrazo. 👊

[Martin Varsavsky @martinvars]

MEGA

[Capitán General de los Tercios @capTercio]

Ésto es una genialidad.

[VíctorSánchezdelReal @sanchezdelreal]

Me está llegando este vídeo de golpe, por todos sitios. Sin saber su autor(si alguien lo conoce que lo cite, por favor) presenta hechos de forma tan eficaz que creo debe verse. ⬇️

[Policía S.XXI @PoliciaSXXI]

@samantavillar Hola Samanta, un buen periodista da toda la información y deja que la gente piense y saqué conclusiones por si misma, si das sólo la parte que te interesa estás diciéndoles lo que tienen que pensar.
Si además lo haces para blanquear a delincuentes, eres un peligro público.

[Wonder of Science @wonderofscience]

The scale of the microscopic.

📽: MetaBallStudios

[Chus del Barco @BarcoChus]

La ley del sí es sí es un despropósito. Fue advertida de q esto supondría rebajar las penas a los violadores y aún así, siguió adelante. No culpe a los jueces. El daño a las víctimas lo provoca su ley. Mentir mil veces no cambia la realidad.

[VOX 🇪🇸 @vox_es]

TRAIDOR, @sanchezcastejon

[Sálvese quien pueda 🇪🇸 @Cierraelpico]

EJECUTIVO:
Presidente del Gobierno: Pedro Sánchez (PSOE)
LEGISLATIVO:
Presidenta del Congreso: Francina Armengol (PSOE)
JUDICIAL:
Presidente del TC: Cándido Conde (PSOE)
Fiscal General del Estado: Álvaro García (PSOE)
INSTITUCIONES:
Defensor del Pueblo: Ángel Gabilondo (PSOE)
CNI: Esperanza Casteleiro (PSOE)
CIS: José Félix Tezanos (PSOE)
Com. Nac. Mercados y Comp: Cani Fernández (PSOE)
INE: Elena Manzanera (PSOE)
EMPRESAS:
RTVE: Concepción Cascajosa (PSOE)
Renfe: Raúl Blanco (PSOE)
Correos: Juan Manuel Serrano (PSOE)
Adif: Eugenio Nasarre (PSOE)
Aena: Mairici Lucena (PSOE)
Agencia EFE: Miguel Ángel Oliver (PSOE)
Indra: Marc Murtrá (PSOE)
Red Eléctrica Española: Beatriz Corredor (PSOE)
ONLAE: Jesús Huerta (PSOE)
Navantia: Ricardo Domínguez (PSOE)

¿Lo podemos llamar ya TOTALITARISMO?

[Iker Jiménez @navedelmisterio]

Puede ser tu hija, tu madre, tu hermana. Junto a las vías.
Leo que ha quedado en libertad.
No hay más preguntas señoría. Bueno sí, una ¿por qué están permitiendo que se destruya nuestra sociedad?

[José María de Pablo @chemadepablo]

El Ministro de Justicia desconoce que el Estado de Derecho consiste, precisamente y entre otras cosas, en que el ciudadano pueda acudir a los tribunales para cuestionar -y corregir- los abusos del ejecutivo.

[Muy.Mona/🇪🇸💚 @Capitana_espana]

Al PSOE le molesta esta imagen, inundemos las redes.

#SanchezDictador

[José María de Pablo @chemadepablo]

1. El TC no está formado por jueces.
2. El TC inadmite a trámite el 99% de los recursos de amparo. Este caso no es especial.
3. La ministra Montero no fue condenada por defender a una madre protectora, sino por llamar maltratador a quien no lo era.

[Alfonso Reyes @alfreyes14]

En la sala de espera de un hospital, acompañando a mi madre a que le hagan una prueba. Un enfermero me mira, me sonríe y me levanta el puño. Le digo “rebote, canasta” y me contesta “falta y tiro adicional”.
Estas pequeñas complicidades cotidianas. Ser de los nuestros.♥️✊🏼