Bank of America has published a report on the crypto industry
The document contains a detailed analysis of the current state of the blockchain industry, cryptocurrencies, DeFi and NFT
05.10.2021 - 14:10
706
1 min
0
What's new? Bank of America (BofA) has published a research report on the current and prospective state of the cryptocurrency industry. The report was the bank's first publication on such a topic since the creation of the Digital Assets Research Group.
What does the report say? The bank noted that the cryptocurrency sphere is drawing more and more attention:
“Digital assets representing a $2 trillion+ market value with 200 million+ users worldwide is too large to ignore“.
The regulator stated that at this time the cryptocurrency ecosystem is less connected with bitcoin. Now there are tokens that act like operating systems, decentralized applications (GApps), stablecoins, central bank digital currencies (CBDC) and non-interchangeable tokens (NFT).
What are the results? Venture investments in cryptocurrencies increased by almost 210% — from $5,5 billion in 2020 to $17 billion in the first half of 2021. As for decentralized applications, Bank of America said that 1,7 billion people in the world can access financial services using their smartphones.
“We expect that alternative coins/tokens will allow users to create new applications, and private companies supported by venture capital will enter public markets.”
Useful material?
Market
To advance crypto-friendly regulation, Trump’s party needs to win a majority in the Senate
Oct 18, 2024
Incidents
The regulator believes that the court erred in not recognizing retail sales of XRP as securities transactions
Oct 18, 2024
Market
The leader was the Solana network, with 100 million active addresses per month
Oct 17, 2024
Crypto regulations
Amendments to the regulation of financial institutions have been published for public discussion until October 30
Oct 16, 2024
Market
Over the past four years, the company’s shares have grown by 1540%, while the index has gained only 111%
Oct 16, 2024
Incidents
Over the last 24 hours, the asset has updated its all-time high at $2,34
Oct 15, 2024