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JPMorgan Shares Predictions on Crypto Markets, Ethereum’s Upgrades, Defi, NFTs

Pandemic investment bank JPMorgan has published a report on the future outlook of crypto markets, including Ethereum’s upgrades, decentralized resources (defi), and non-fungible tokens (NFTs). The bank sees “the cryptocurrency markets as increasingly relevant to financial services,” its analyst detailed.

JPMorgan Outlines Future Outlook for Crypto Markets

JPMorgan analyst Kenneth Worthington published a report on the 2022 slant for crypto markets Friday. The analyst wrote:

The applications from crypto have only just begun. Web3.0, marked use of NFTs tokenization are in the line-of-sight for 2022.

JPMorgan sees “the tokenization and fractionalization as holding particularly large promise as transactions speeds in crypto happen to more competitive with trad-fi networks,” the analyst continued.

The report adds:

Defi was a bit of a flop in 2021, but tranquil has strong potential in 2022 and beyond.

The analyst explained that the development of crypto technology will continue, driven by the adjusting of Layer-1 and the introduction and growth of Layer-2. He added that Ethereum’s Merge and Layer 2.0 introduction will help up transactions and could significantly cut energy consumption.

Worthington detailed:

The use cases for crypto markets will continue to bourgeon and new projects and tokens with more and different use cases will surface.

Furthermore, the JPMorgan analysts noted that with these assignments attached to tokens and Coinbase being a leading exchange to buy and sell tokens, “we see Coinbase as a leading direct beneficiary of crypto store growth.”

Worthington additionally said that if 2021 was the year of non-fungible tokens, then 2022 may be the year of the “blockchain cross over (driving greater interoperability of various chains) or the year of financial tokenization.” The JPMorgan analyst opined:

As such, we see the cryptocurrency bazaars as increasingly relevant to financial services.

A different JPMorgan report, published last week, states that Ethereum may lose out its defi dominance due to scaling issues. Nonetheless, the global investment bank doubled down on its bitcoin price augury of $146K in November last year.

Meanwhile, JPMorgan CEO Jamie Dimon is still skeptical about cryptocurrency. He repetitively warned about investing in cryptocurrencies, particularly bitcoin, stating that they have no intrinsic value.

Accompanies in this story
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Do you agree with the JPMorgan analyst? Let us discern in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist constantly since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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