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JPMorgan Shares Predictions on Crypto Markets, NFTs – Featured Bitcoin News



The global investment bank JPMorgan has published a report on the future outlook for crypt markets, including Etherea upgrades, decentralized financing (defi) and non-interchangeable tokens (NFT). The bank considers “cryptocurrency markets to be increasingly important for financial services,” said an analyst.

JPMorgan outlines future prospects for crypto markets

JPMorgan analyst Kenneth Worthington on Friday published a report on the outlook for cryptocurrencies for 2022. The analyst wrote:

Cryptocurrency applications have only just been launched. Web 3.0, greater use of NFT tokenization are in sight for 2022.

JPMorgan sees “tokenization and fractionation as particularly promising as the rate of cryptocurrency transactions becomes more competitive with trad-fi networks,” the analyst continued.

The report adds:

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

The analyst explained that cryptotechnology development would continue, driven by Layer 1 scaling and Layer 2 deployment and growth. He added that the introduction of Etherea Merge and Layer 2.0 would speed up transactions and could significantly reduce energy consumption.

Worthington in detail:

Use cases for crypto markets will continue to grow and new projects and tokens will appear with more and different use cases.

JPMorgan analysts further noted that with these token-related projects and Coinbase being a leading token buying and selling exchange, “we see Coinbase as the main direct recipient of cryptotrame growth.”

Worthington added that if 2021 was a year of unmistakable tokens, then 2022 could be a year of “blockchain bridge (driving greater interoperability of different chains) or a year of financial tokenization.” Analyst JPMorgan stated:

As such, we see cryptocurrency markets as increasingly important for financial services.

Another JPMorgan report, published last week, states that Ethereum may lose its dominance due to scaling problems. However, the Global Investment Bank doubled its bitcoin price forecast to $ 146,000 in November last year.

Meanwhile, JPMorgan CEO Jamie Dimon is still skeptical about cryptocurrencies. He repeatedly warned against investing in cryptocurrencies, especially bitcoin, and said they had no intrinsic value.

Tags in this story

bitcoin outlook, Coinbase, crypto market outlook, crypto markets, crypto forecasts, decentralized finance, DeFi, JP Morgan, jpmorgan, JPMorgan crypto prediction, Kenneth worthington, nft, unmistakable tokens, tokenization, Web 3.0

Do you agree with the JPMorgan analyst? Let us know in the comments section below.

Kevin Helms

Kevin, a student of Austrian economics, found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in securing bitcoins, open-source systems, network effects, and the intersection between economics and cryptography.

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