JPMorgan gives its crypto, NFT, DeFi predictions for 2022. They believe that with increased adoption and market growth, cryptocurrencies are becoming more relevant to the finance industry. This is the reason that as 2022 began, JPMorgan gave its take on what might happen this year in crypto. Another interesting topic the bank talked about is the Ethereum upgrades that are coming, which could make it an even better investment as compared to now.
JPMorgan’s 2022 crypto predictions
NFTs, Web3, and DeFi
An analyst from the bank, Kenneth Worthington, published a report on 2022 for the crypto markets recently. Kenneth believes that 2022 will see a much more improvement in the usage of various applications. Web3 is going to do really well, and the NFTs are in line to be used as tokens in 2022. At the same time, the increased transaction speeds with various networks bring more competition in crypto.
After this, Kenneth went on to talk about Decentralized Finance. While 2021 was the year of crypto, DeFi didn’t do particularly well this year. But 2022 could be different as it has a strong potential to grow. In fact, LINK is already showing huge strength in the temporary bear market. We are also going to see a lot of new projects in the space with new use cases and technologies in 2022.
Ethereum
The analyst said that scaling of layer 1 projects would continue to happen in 2022 with Layer 2 solutions. And the largest of these will be the merger of Ethereum and Ethereum 2.0 to speed up transactions and implement the proof of stake algorithm. This could change the entire crypto landscape and propel Ethereum even closer to Bitcoin as the price increase is inevitable.
Top exchnage
Apart from the technical growth in this industry, we are also going to see more adoption, trading, and volume in 2022. And as all this will be happening, Coinbase is expected to see a huge growth that will be directly proportional to the crypto market. This will also help in boosting the price of Coinbase’s stock which hasn’t been doing particularly well since its IPO last year.
What are your thoughts as JPMorgan gives its crypto, NFT, DeFi predictions for 2022? And do you disagree with any of these statements? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Bitcoin will bottom out at $40k, says Mike Novogratz.