Bank of America: 99% of Crypto Assets Will Disappear
Main Idea
Bank of America predicts that 99% of the over 26,000 existing crypto assets will disappear, emphasizing the distinction between crypto assets and cryptocurrency, and highlighting the long-term potential of regulated, permissioned blockchain systems.
Key Points
1. Bank of America's report states that approximately 99% of the over 26,000 crypto assets in existence today will disappear.
2. The report distinguishes between 'crypto assets' and 'cryptocurrency,' noting that not all tokens are equally necessary.
3. Bank of America views tokenization as a long-term infrastructure trend, with markets increasingly adopting tokenized frameworks over time.
4. The report downplays the long-term utility of public blockchain networks, favoring regulated, permissioned systems for efficiency.
5. Only a small number of crypto projects with strong fundamentals are expected to survive, while the majority will not.
Description
Crypto researcher SMQKE shared a notable excerpt from a Bank of America Global Research report that presents a stark projection for the future of most crypto assets. The report states that approximately 99% of the over 26,000 tokens currently in existence are expected to disappear over the next ten years. This prediction was drawn from a broader analysis of the evolving financial infrastructure and the role that tokenization is expected to play in reshaping both traditional finance and blockchai...
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