JPMorgan Shares Predictions on Crypto Markets, Ethereum’s Upgrades, Defi, NFTs – Featured Bitcoin News

Global investment bank JPMorgan has released a report on the future prospects for the crypto markets, including updates to Ethereum, decentralized finance (defi), and non-fungible tokens (NFT). The bank believes that “cryptocurrency markets are increasingly relevant to financial services,” its analyst described.

JPMorgan Outlines Future Prospects for Crypto Markets

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

Crypto applications have only just begun. Web3.0, increased use of NFT tokenization is on the line of sight for 2022.

JPMorgan sees “tokenization and fractioning as particularly promising as crypto transaction speeds become more competitive with trad-fi networks,” the analyst continued.

The report adds:

Defi was a bit of a flop in 2021, but it still has great potential in 2022 and beyond.

The analyst explained that the development of crypto technology will continue, driven by the scaling of Layer-1 and the introduction and growth of Layer-2. He added that the introduction of Ethereum Merge and Layer 2.0 will speed up transactions and could significantly reduce power consumption.

Worthington detailed:

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

Furthermore, JPMorgan analysts noted that with these projects attached to tokens and Coinbase as a leading exchange for buying and selling tokens, “we see Coinbase as a leading direct beneficiary of the growth of the cryptocurrency market.”

Worthington further said that if 2021 was the year of non-fungible tokens, then 2022 could be the year of “blockchain bridge (which drives greater interoperability of various chains) or the year of financial tokenization.” The JPMorgan analyst opined:

As such, we see that cryptocurrency markets are becoming more and more relevant to financial services.

A different report from JPMorgan, released last week, claims that Ethereum may lose its defi dominance due to scale issues. Nonetheless, the global investment bank doubled its prediction of the bitcoin price of $ 146K in November of last year.

Meanwhile, JPMorgan CEO Jamie Dimon remains skeptical about cryptocurrencies. He repeatedly warned about investing in cryptocurrencies, particularly bitcoin, stating that they have no intrinsic value.

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Bitcoin outlook, Coinbase, Crypto market outlook, Crypto markets, Crypto Predictions, decentralized finance, DeFi, JP Morgan, jpmorgan, JPMorgan crypto predictions, Kenneth worthington, nft, non-fungible tokens, tokenization, Web 3.0

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

Kevin helms

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

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