Crypto is coming to the mainstream, concludes a recent study by JMP Securities, which analyzes the increasing adoption of cryptocurrency over the past few years. Meanwhile, the company’s analysts also claim that “the industry is still in its formative stage.”
The Crypto Market Evolution Research
Earlier this week, analysts at JMP Securities published a research results on cryptocurrency adoption. They stated that “The crypto economy has entered the mainstream“ and noted:
The crypto market has come a long way in its short existence, and we believe both adoption and early use cases have established ‘escape velocity,’ whereby binary arguments about its fate are all but off the table at this point.
Additionally, the analysts noted that current industry conditions are far from perfect, scams are rampant, regulations are weak, and more education is needed over the industry’s technical features that prevent adoption and usage.
Nevertheless, they believe the industry’s potential shall continue to be supported and developed, adding that, they anticipate many of the current perceptions of negatives in the space will improve with further maturity and time.
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The anaylists from JMP Securities added in there report that in the early days of bitcoin, “the crypto ecosystem was unproven and uncertain.” Furthermore, they noted: “Today, we believe that negative view has been substantially de-risked with adoption acceleration and expanding utility strengthening the foundation, already looking more like a relatively established network, despite what we view to be the early innings of an exponential longer-term growth cycle.”
Analysts see Coibnase, a Nasdaq-listed crypto exchange, as an important player in the broader crypto market. The authors concluded, despite exponentially increasing adoption of cryptocurrencies, that companies providing the infrastructure to support this growth (such as Coinbase) will reap enormous rewards.
