Bank of America is interested in ETH, DeFi and NFT
|Slavomír Kaňuk|source|484x
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Bank of America is interested in ETH, DeFi and NFT

Representatives of the world's leading banks seem to be gradually changing their views on the cryptocurrency industry. Most of them have already commented on this topic, and we can say that we are following interesting progress in their reports. Of course, some banks continue to criticize cryptocurrencies, but there are fewer and fewer of them, and they are beginning to prevail positively. These institutions probably do not want to miss the train and it can be assumed that they are also pressured by clients who are interested in the possibility of investing in crypto assets.


Bank of America also sees the positive future of Bitcoin, which has been presenting its bullish setting for a longer time. Their latest report focuses on blockchain and digital assets. Among other things, it shows that they do not only look at the king of cryptocurrencies and also mention Ethereum, DeFi, NFT, dApps and stablecoins. For many investors, this is very important news, as it is these sectors that are currently enjoying their huge interest. The report also suggests that blockchain-based technologies represent the most exciting new market.

 

It is clear that in this document they wanted to look at the market from a broader perspective and not just at Bitcoin, as is often the case. The market includes thousands of different cryptocurrencies, which are in addition complemented by NFTs. Most are likely to be lost in huge competition in the future, but we can find hundreds of them really interesting. According to Bank of America, it would not be clever to overlook these projects. They also see great potential in Ethereum highlighting the possibilities of smart contracts, which can shape a new era of services and applications.


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According to this report, the relevant blockchain and crypto projects do not have to worry about their future. They also devoted part of the document to the aforementioned NFT, and Bank of America is convinced that the industry will be gradually explored by many artists. At the same time, in terms of trading volumes, it is one of the fastest-growing sectors. However, the bank has also expressed its concerns in this regard and considers the rapidly rising prices of some NFTs to be particularly dangerous. They assume that most of these problems will disappear along with the maturity of the market.


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The bank also provided very interesting numbers in the report. A good example is their clients' risk capital investments in digital assets and blockchain companies, which grew to an incredible $ 17 billion in the first half of this year compared to the whole last year with $ 5.5 billion.

 

A new list of the 400 richest people of America, compiled by Forbes magazine, has also recently been published. 6 new crypto billionaires have joined this elite society and a total of 7 of them are on this list. Although none of them is in the top 100, their number is growing interestingly. They are co-founders of Ripple and other co-owners of cryptocurrency exchanges such as Coinbase, FTX and Gemini. It can be assumed that if the market keeps its current trend, the ranks of crypto billionaires will be expanded again next year.

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