Wall Street Giant: “2023 Will Start a 10-Year Golden Age in Cryptocurrency! We Expect 16x Rise!”

who spent the year 2022 in difficult conditions Bitcoin (BTC) and cryptocurrencies It remains to be seen how the coming years will pass for the future.

One of the giants of Wall Street dealing with the development of cryptocurrencies BernsteinIn a research report he published, he stated that they expect a rise in the crypto market.

Believing that total revenue in the crypto industry will increase 16-fold over the next 10 years to $400 billion in 2033, Bernstein analysts said that 2023 will lay the foundation for a decade-long golden age of innovation for crypto applications.

until 2033 crypto- Analysts, who expect revenues to reach $400 billion, estimate that around 50% of these revenues will be decentralized blockchain revenue.

Today, it accounts for 15% of total crypto revenue.

On-chain revenues include smart contract blockchain revenues, Tier 2 revenues, and app revenues (now DeFi, NFT Bernstein, pointing out that it contains blockchain He said he expects on-chain revenues to rise from less than $4 billion today to around $200 billion in 10 years, driven by the growth of technology.

“Within the on-chain financial applications, we expect decentralized exchanges, lending and structured/tokenized products to be the main revenue drivers.”

Lastly, Bernstein cryptocurrencyHe said that he predicts rapid adoption by institutions and that institutional services such as custody and market making will become the driving force of revenue growth for the crypto industry.