{"id":57985,"date":"2022-02-17T15:42:56","date_gmt":"2022-02-17T13:42:56","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=57985"},"modified":"2025-09-04T14:26:45","modified_gmt":"2025-09-04T11:26:45","slug":"bank-of-america-names-chainlink-as-one-of-the-drivers-of-tvl-growth-in-the-defi-sector","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bank-of-america-names-chainlink-as-one-of-the-drivers-of-tvl-growth-in-the-defi-sector\/","title":{"rendered":"Bank of America names Chainlink as one of the drivers of TVL growth in the DeFi sector"},"content":{"rendered":"<p>Chainlink&#8217;s decentralized oracle network could accelerate blockchain adoption in finance, insurance, supply chains, and gaming and gambling projects. This is stated in a Bank of America (BofA) analytical report, CoinDesk writes.<\/p>\n<p>In the view of BofA analysts, Chainlink is one of the main drivers of growth in DeFi&#8217;s total value locked (TVL).<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAdoption and growth of DeFi [in 2021] were driven by the ability of hybrid smart contracts, or self-executing and tamper-resistant digital agreements, to provide through oracle nodes reliable and secure access to real-world data, such as market prices, time of day, weather and GPS coordinates,\u201d the report says.<\/p>\n<\/blockquote>\n<p>According to <a href=\"https:\/\/defillama.com\/\">DeFi Llama<\/a>, despite a downturn in the crypto market, the DeFi sector&#8217;s TVL at the time of writing stands at $207.97 billion. This is 18% below the all-time high reached in December 2021.<\/p>\n<p>Chainlink is the largest oracle network \u2014 it accounts for over 59% of the sector&#8217;s total TVL ($53.59 billion). Over the last year its value has grown by 188%.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"631\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/oracles-1024x631.png\" alt=\"\u0412 Bank of America \u043d\u0430\u0437\u0432\u0430\u043b\u0438 Chainlink \u043e\u0434\u043d\u0438\u043c \u0438\u0437 \u0434\u0440\u0430\u0439\u0432\u0435\u0440\u043e\u0432 \u0440\u043e\u0441\u0442\u0430 TVL \u0441\u0435\u043a\u0442\u043e\u0440\u0430 DeFi\" class=\"wp-image-165585\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/oracles-1024x631.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/oracles-300x185.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/oracles-768x473.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/oracles.png 1386w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: <a href=\"https:\/\/defillama.com\/oracles\">DeFi Llama<\/a>.<br \/><\/figcaption><\/figure>\n<p>According to BofA, the Chainlink network is used by more than 1,100 projects. Around 800 companies have launched nodes to monetize their data, including <a href=\"https:\/\/forklog.com\/en\/news\/associated-press-joins-chainlink-oracle-network\">Associated Press<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/swisscom-joins-chainlink-oracle-network\">Swisscom<\/a> and AccuWeather.<\/p>\n<p>According to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/chainlink\">CoinGecko<\/a>, at the time of writing the native Chainlink token (LINK) trades near $16.64, well below <a href=\"https:\/\/forklog.com\/en\/news\/chainlink-hits-new-all-time-high-above-50\">the May high<\/a> of $52.70.<\/p>\n<p>In December 2021, the staking service Lido <a href=\"https:\/\/forklog.com\/en\/news\/lido-integrates-chainlink-price-data-for-steth\">integrated the Chainlink Price Feed<\/a> for the stETH token.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, rates and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The decentralized oracle network of Chainlink could accelerate blockchain adoption in finance, insurance, supply chains, as well as gaming and gambling projects, according to a Bank of America analytical report.<\/p>\n","protected":false},"author":1,"featured_media":57986,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2027,1388],"class_list":["post-57985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bank-of-america","tag-chainlink-link"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=57985"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57985\/revisions"}],"predecessor-version":[{"id":57987,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57985\/revisions\/57987"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/57986"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=57985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=57985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=57985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}