The depreciation of crypto assets seems not to have affected interest in the sector. According to a Bank of America report, investors are not worried about the ‘crypto winter’.
Bank of America recently released a study in which crypto assets were mentioned. The report talks about the challenges of the financial market and cites the potential of blockchain technology and Web3.
Thus, the bank remains optimistic about digital assets, even though the market is in a significant correction. Furthermore, the report states that crypto assets and blockchain technology are already established trends in the financial sector.
The document that talks about the crypto market was released by Bank of America right after the “Web3 & Digital Assets Day” event. The report states that the number of crypto asset investors continues to grow.
“Client engagement continues to grow, and the focus remains on the rapid development and disruptive nature of blockchain technology”.
For the institution, price drops should not influence investors’ decisions. However, the lack of regulation for the sector can still be considered an obstacle.
Thus, the crypto market should face major challenges to continue its expansion. Bank of America says that the first billion users gained by the industry were easy to conquer.
However, the crypto market will have to develop better solutions to continue to grow and reach the next billion, says Bank of America.