“ADA, ETH and BNB will Slaughter Bitcoin” Bank of America

According to Bank of America report, BNB ETH and ADA cryptocurrency will crush Bitcoin in by 2030!

The Cryptocurrency market cap is at $ 2 trillion. This is more than most countries in the world. According to the Bank Of America study, these assets are now too big to ignore. The institutional bull run has started, and it focuses on 3 crypto: ADA, ETH and BNB!

“Bitcoin is just the start. ADA, ETH and BNB are the continuation ”Bank Of America

  • The number of large transactions is exploding!
  • The feeling of the holders is 100% Bullish!
  • Ethereum development exceeds expectations!

ADA, ETH and BNB, the future kings of cryptocurrencies

Bank of America: 1/3 of the United States will use cryptocurrencies by 2022

Bank of America, one of the world’s leading financial institutions, has ordered a study edited by Alkesh Shah. According to this study, cryptocurrencies will grow massively over the next 30 years. In just a year, a third of Americans will be using cryptocurrency. In particular Cardano ADA, Ethereum ETH and Binance Coin BNB!

“It’s hard to overstate how blockchain technology, digital assets and the thousands of decentralized applications will transform the world. Digital assets that build a platform, like Apple’s iPhone, gain the most value. The top three: Ethereum ETH, Cardano ADA and Binance Coin BNB “

27% of the American population will use cryptocurrencies

The Historical Bank of the United States report states that the NFTs, institutional investments and the growth rate are incredible. And yet, the Bank of America considers the market to be still “young” and with “gigantic” growth potential.

221 million people buy and sell cryptocurrency in June 2021, up from 66 million in May 2020. Crypto will disrupt finance, technology, supply chains, social media, gaming, and more.

The violent adoption of institutions

  • According to Bank Of America, which is THE bank of the United States, the adoption will be massive and powerful.
  • 14% of Americans currently hold cryptocurrencies
  • This represents 21 million users and investors. They will be 42 million in 1 year. That’s a 100% increase.
  • The average cryptocurrency holder earns around $ 111,000 per year, according to the study.
  • If 42 million people invest $ 111,000 in crypto, that represents an inflow of $ 4,662 billion. Just for the United States.

In addition, the share of institutional investors has exploded for a year.

  • On Coinbase, the number of institutions increases by 67% while the number of individuals increases by only 34%.
  • Institutionals make up 1% of Coinbase’s population, but they own 50% of the assets.
  • The volumes that institutions traded is up 633% in one year, from $ 9 billion to $ 57 billion.

Other highlights from this 140-page report:

  • The stablecoins are so important that they represent a risk for global finance!
  • The CBDCs – Central Bank Digital Currency, central bank crypto, are inevitable.

NFTs and DeFi

For more information – see our guide “Buy Ethereum“.

Many investors see NFTs as one more bubble, according to the report. However, the Bank of America is not wrong.

NFTs can be used in place of deeds, titles, or whatever is currently needed to demonstrate ownership – and all without a middleman charging a fee.

According to the report, NFTs are well highlighted as one of the current market drivers. The power of Non-Fungible Tokens – Non Fungible Token – will have violent repercussions on the rest of the economy and industry. Far beyond what people still understand. The rise of SORARE which now weighs 5 billion dollars is a glaring example!

But the most interesting passage in the report is undoubtedly about DeFi. Decentralized Finance clearly represents a danger for the economic model of banks. Yet the report simply notes that the SEC is working to bring this sector up to standard. Even better: according to the Bank of America, Decentralized Finance will, in time, be part of the global economic landscape.

In this area in particular, Ethereum is emerging as the future king of crypto.

In short, Bank of America has changed sides. The question for her is not whether cryptocurrencies like ADA, ETH and BNB will rule the world, but when. And a priori, it will start in 2022.

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