Cryptocurrencies are experiencing wonderful growth in recent days, and we have another huge report here today that works in favor of cryptocurrencies. The crypto industry is under the scrutiny of one of BofA’s largest international banks, with total assets of over $ 2.8 trillion, making it another really huge potential player in this sector. BofA has published a 140-page report, which points out at the outset that the cryptocurrency universe is already really large and can no longer be ignored, as the market capitalization of all cryptocurrencies exceeds $2 trillion and more than 200 million users.
,,Regulatory uncertainty is the largest near-term risk in our view, but regulation may drive increased investor participation over the long term once the “rules of the road” for digital assets are established.”
The Bank of America is also aware of the importance of the cryptocurrency Bitcoin, which has had the highest market capitalization from the very beginning, and the movement of this cryptocurrency moves with the entire market. However, it also highlights Stablecoins, DeFi, CBDC, DApps, and, for example, NFT, while the last two are named as “the biggest innovations”. At NFT, we also received interesting information in this document that NFT more than $ 3 billion, a huge increase over the same month last year.