Bank of America publishes its new Global Research called Digital Asset Primer shows that it is widely enthusiastic about the growing industry, covering everything from popular cryptocurrencies to Decentralized apps the flourishing decentralized finance space, stablecoins, and even NFTs.

The reports mainly talk about the digital asset ecosystem that has attracted significant attention and accelerating investment in the past days and Increased adoption in new blockchain-enabled applications such as Defi and NFTs fueling the market growth. It also covers regulatory rules globally likely to affect every part of the ecosystem and here are some interesting highlights from the report

  • At $2.1tn, the digital asset ecosystem aggregate market value is now larger than the GDP of Italy or Canada
  • Venture Capital funding jumped to $17bn+ in 1H/2021 from $5.5bn in all of 2020
  • Development and adoption of digital assets will likely be led by Gen Y, Millennials and Gen Z.
  • NFT sales increased to $3bn+ in August 2021 (although the market has cooled a bit since), up from $250mn in 2020 driven by corporate, celebrity and individual demand
  • The digital asset ecosystem's market value is $2tn+, led by bitcoin at ~$900bn and ether at ~$400bn. There are 200mn+ crypto users globally and ~$125bn in transaction volume daily.

"This is growing, this is mainstream,there is a lot more about this ecosystem beyond Bitcoin" says Research chief Candace Browning

The reports mainly talk about the digital asset ecosystem that has attracted significant attention and accelerating investment in the past days and Increased adoption in new blockchain-enabled applications such as Defi and NFTs fueling the market growth. It also covers regulatory rules globally likely to affect every part of the ecosystem and h

She also mentions that the no of corporates mentioning crypto on their earning calls has gone from 17 to 147 in just a year.

After a bearish downtrend, Bitcoin last week experienced one of its largest surges and crosses 50,000 dollars after a series of positive news like these.

The report even talks about Web3 and how it can be incorporated with existing companies, gives a primer on tokens and also some of the challenges that need to be addressed. If this is info is not sufficient, encourage you to go through the full report here