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Crypto and equity markets have rallied over the past week after U.S. Federal Reserve Chair Jerome Powell signaled a softened stance on rate increases. Powell said the agency’s commitment to reining in inflation, which is now at a 40-year high, was “unconditional,” adding that he expected economic growth to pick
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Investors wondering why digital assets are not outperforming traditional ones should be aware that the cryptocurrency ecosystem is an “emerging tech asset class and the tokens that power the ecosystem trade like high growth, speculative risk assets,” analysts led by Alkesh Shah wrote in a May 17 note. Original Source
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Silvergate Capital (SI) offers investors an alternative way to gain exposure to the growth of the cryptocurrency ecosystem without the need to actually own a digital asset, Bank of America said in a report initiating coverage of the stock with a buy rating and a $200 price target, implying a
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The adoption and growth of DeFi last year was driven by the “ability for hybrid smart contracts, or self-executing and tamper-proof digital agreements, to verifiably and securely access real-world data through oracle nodes like market prices, time of day, weather and GPS location,” the report said. Source
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Bitcoin's volatile price means it is unlikely to be adopted as an inflation hedge by investors in developed countries. Original Source
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“The code for artists/creators to build their own NFT platforms and drops on Solana, such as Candy Machine, is open-sourced, and community events such as Metaplex office hours also help onboard many creative developers to try their hands at creating customized collections and innovate,” he told CoinDesk in a Telegram
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Smart-contract platform Avalanche’s ability to scale while remaining secure and decentralized makes it a credible alternative to Ethereum for DeFi projects, NFTs, gaming and other assets, Bank of America said in a research report.Avalanche’s subnet feature is increasing adoption, the bank said, with more than 380 projects built on the
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One-quarter of surveyed global fund managers expect the price of bitcoin to surpass $75,000 in 12 months, according to a Bank of America survey of global fund managers seen by CoinDesk.A quarter of fund managers expect the price of bitcoin to be over $75,000 in one year, compared with 20%
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Bank of America (BofA) highlighted 10 bullish charts for stocks with digital asset exposure, according to a research note Friday.The stocks are Advanced Micro Devices (AMD), American Express (AXP), Bunge (BG), Exelon (EXC), Facebook (FB), JB Hunt (JBHT), JPMorgan (JPM), SVB Financial (SIVB), Tesla (TSLA) and Workday (WDAY).Advanced Micro stock
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The price of Bitcoin (BTC) abruptly dropped 4% from the day’s peak on Oct. 30 as the uncertainty in the stock market intensified. With five days left to the U.S. presidential election, Bank of America (BofA) suggested a 20% drop is possible.The Dow Jones Industrial Average (DJIA) declined 7.55% since
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