Are cryptocurrencies the new frontier of finance?

Are cryptocurrencies the new frontier of finance?

In an exclusive televised interview with Fox Business on Wednesday, Devin Ryan, director of financial research at JMP Securities, talked about regulating the cryptocurrency sector amid the upcoming expectations of a White House policy framework, U.S. states accepting bitcoin. as legal tender, as well as the vast potential for consumer adoption in the coming year.
Cryptocurrency assets have experienced significant volatility over the past month, with the core asset bitcoin down nearly 44% from all-time highs and ethereum having experienced a similar trend.
Despite price disadvantages, capital investment, consumer adoption, community optimism, and corporate valuations for the digital asset space have never been higher, the latter exemplified by recent multi-billion dollar valuations for Animoca Brands, Fireblocks and FTX, respectively, at $ 5 billion, $ 8 billion and $ 32 billion.

On the subject of supplying coins to the market, Ryan stated that “we don’t think many of them really have a future, but some of them really have the potential to help solve problems in the world with blockchain technology.”
Furthermore, he cited the potential of cryptographic mechanisms integrated into the gaming space, evaluating that “people can monetize their time in ways that have never existed before”, stating that cryptocurrency is “the new frontier” and continuing to predict that overall industry growth will be preceded by short-term volatility as these technologies compete for mainstream adoption.
Responding to a question about Miami and New York’s efforts to create a state-level digital asset, plus Arizona and Wyoming pursuing various methods of bitcoin adoption, Ryan stated that there is “tremendous innovation and training. of ongoing capital ”and that states and countries will be eager to become a headquarters for promoting technology.

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