The crypto economy is on the rise and entering the mainstream, according to JMP Securities, the full-service investment banking and asset management firm.
Crypto Economy Gaining Popularity
The firm recently published a small study regarding cryptocurrency adoption, where they focused on the possibility of crypto entering the mainstream.
The research note talks about the brief history of the crypto market and how rapidly it evolved. It also discusses crypto adoption and how it has reached ‘escape velocity’ within a short period.
The Industry Still in Its Developing Stage
However, binary arguments are always present, as there are two sides to the same coin. Apart from its growing success, the firm’s analysts admit that there are also elements where cryptocurrencies fall short.
The crypto industry is not ideal, there is the possibility of frauds and hacks, more regulations are needed and people are still not properly informed about it, even the ones inside the industry. Consequently, their usage can take the wrong turn.
Despite this, the company is a firm believer that the crypto industry has a lot of potential and can overcome all these faults. As time goes on, the crypto market will further mature and such challenges will disappear.
JMP Securities reminded people of Bitcoin’s beginning and how uncertain everything was in the crypto section back then. Today things have changed for the better, and the majority no longer has such a negative view of crypto.
The market, due to more and more countries’ adoption of crypto and the early use cases, has now built a strong foundation. The network is already more sound and safe, however, this is only the beginning of even greater growth in the future, conclude the analysts.
The Significant Role of Coinbase
Coinbase, one of the biggest crypto exchanges, is considered a ‘flagbearer’ in the development of the crypto industry, according to analysts.
Although things are already looking good for the crypto market, it is still in the formative stage and needs allies to further go on. Crypto exchanges, for instance, Coinbase, could offer the necessary help for the industry to grow and be fully ready for the mainstream market.
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