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JMP Analyst: Crypto Adoption Has Hit Escape Velocity

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Investment and asset management company JMP says that “The Crypto economy is entering the mainstream, explaining further that “adoption and early use cases have established ‘escape velocity. However, they also noted that the industry is still in its formative stage.

JMP securities just published research that speaks about Cryptocurrency adoption. Highlighting that The Crypto economy is entering the mainstream, the firm’s analyst stated: “The Crypto market has come a long way in its short existence, and we believe both adoption and early use cases have established ‘escape velocity, where the binary argument about its date is all but off the table at this point.”

The analysts further explained that the industry is far from perfect today, scams do exist, regulation is undeveloped, and the industry needs more education given the technical aspect of the space that makes adoption and usage not always intuitive.

Nevertheless, JMP securities believe that the industry’s potential warrants continual investment, furthermore they stated, we anticipate many of the currently perceived negatives in the space will continue to improve with further maturation and time.

Conversely, they added that in the infancy stage of Bitcoin, the Crypto Ecosystem was unproven and uncertain, they explained further but today, we believe that negative view has been substantially de-risked with adoption acceleration and expanding utility strengthening the foundation, already looking more like a relatively established network, despite what we view to be early adopters of an exponential larger term growth cycle.

According to the analyst, the Crypto exchange Coinbase which was listed on Nasdaq is a flag bearer in the development of the broader crypto economy. 

They finalised that despite the exponential scaling of adoption, we think the industry is still in its formative stage, and as use cases for crypto rapidly expand, we see tremendous upside for the companies like coinbase that provide infrastructure to support this growth.”

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Data Scientist, Tech Enthusiast and a Crypto Lover