Bank of America: “Ethereum, DeFi and NFT have great potential " – Bits Media

Analysts at the second largest US bank Bank of America are optimistic about the future of digital assets and blockchain. They are especially interested in the development of Ethereum., DeFi, dApps and NFT.

Bank of America Research Division releases Digital Asset Primer report, in which the blockchain is named "The most exciting new market", appeared in recent years.

Analysts examined various aspects of the industry - popular cryptocurrencies, Decentralized applications (dApps), The branch of decentralized finance (DeFi), Stebblecoins and non -replaced tokens (NFT).

Researchers Bank of America noted, that the digital asset sector has become too large, so that you can ignore it. They claim, that in addition to bitcoin in the industry there are other interesting directions.

"We believe, that cryptocurrencies can form a completely new class of assets. Bitcoin is important, since it has a market capitalization of about $900 billion, But the ecosystem can offer much more ", - says the report.

Analysts emphasize, that the platforms of smart contracts, eg, Ethereum, There is a potential to ensure a wide range of services and functions. The report notes:

“In the near future, you can use the blockchain, To unlock your phone, Buy promotions, house or part of Ferrari, receive dividends, occupy, borrow or save money, or even pay for gasoline or pizza ".

According to Bank of America, Investments in digital assets and companies, Blockchain, exceeded $17 billion only in the first half 2021 of the year, Compared to $5.5 billion for all 2020 year.

The report also mentions the recent revival of the NFT market. According to analysts, Defi and NFT are the most innovative elements in the cryptocurrency industry, And the growth of NFT has become a "surprise for everyone".

Bank of America also outlined potential obstacles to the further development of the cryptocurrency industry. Analysts describe in detail the impending threat of increasing regulation, Especially taking into account the recent comments of the Chairman of the Commission on Securities and Exchange of the United States (SEC) Gary Gensler.

The report also describes in detail potential legal, normative, Technological and environmental risks for various sectors of the industry. Bank analysts count, that the blockchain will provide breakthrough innovations.

"We believe, that the ecosystem of digital assets is just beginning to develop, Despite the rapid growth and achievement of market capitalization at the level of some largest public companies in the world ", - says the report.

Recall, that in August Bank of America published a report, in which he emphasized the advantages of the initiative of Salvador in the adoption of bitcoin in a high -quality legal payment means.