Analysts of banking giant JPMorgan are skeptical about the activity in the DeFi and NFT markets.
JPMorgan’s Nikolaos Panigirtzoglou analysts led by “While we have no doubt that the revival in DeFi/NFT activity is a positive sign, we believe it is too early to get excited about it.” Wrote.
Qualified Intellectual Property (NFT) sales volumes and the total value of assets in DeFi protocols declined after the 2021 bull market but have rebounded in recent months. started to grow.
According to JPMorgan analysts, this “It has created optimism that the worst days are behind us regarding the medium-term course of DeFi/NFT activity.” however It’s still too much to be optimistic early.
As the number of buying and selling transactions in the cryptocurrency market, some of which are made through decentralized exchanges, increases, the mobility seen in DeFi is expected to increase. “natural” It is thought to be.
Ethereum, the largest altcoin, has underperformed compared to many other cryptocurrencies. “Ethereum appears to have failed to capitalize on the recent resurgence of activity in DeFi/NFTs.” According to JPMorgan analysts who say high transaction fees and slow transaction speeds Problems such as this affect.
Analysts also rated the emergence of new blockchains, DeFi protocols, and NFT platforms such as Aptos, Sui, Sei, Celestia, and Blur as “promising.”