JPMorgan Chase & Co., an American multinational investment bank, believes that the world’s biggest cryptocurrency, Bitcoin, is 28% below its “fair price,” implying signs of “significant upside from here.” Bitcoin has also replaced real estate as one of JPMorgan’s preferred “alternative assets.” According to a note released on May 25, JPMorgan believes that cryptocurrencies like…
Last week, top executives at financial firms recapped a quarter on Wall Street in their post-earnings calls with investors. A widely-cited topic in those conferences was imminent blockchain plans from the industry’s biggest firms, including BlackRock, JPMorgan Chase, and Goldman Sachs. CEOs of the major financial institutions, including BlackRock, JPMorgan Chase, and Goldman Sachs, were…
JPMorgan, the largest US lender, had become the first bank to arrive in the metaverse, having opened the Onyx lounge in a blockchain-based virtual world Decentraland. According to a report, the bank sees “limitless” opportunities in the virtual world, with a new workforce and expanded virtual real-estate ownership financed by DAOs. JPMorgan Chase has opened…
The Central Bank of Bahrain (CBB) has successfully completed a digital payments test in collaboration with JPMorgan’s blockchain and cryptocurrency unit Onyx. The trial run included testing the widely anticipated JPM Coin, a digital currency backed by the American investment bank JPMorgan. Bahrain’s central bank revealed it is committed to improving the customer experience for…
Analysts at JPMorgan led by Nikolaos Panigirtzoglou have suggested that Ethereum, the second-largest cryptocurrency by market cap, could see its dominance in the decentralized finance (DeFi) space fade to rivals. According to Bloomberg, the analysts revealed that until the final phase of sharding, which they described as the “most critical” development for scaling Ethereum,…
JPMorgan analysts said that crypto investors should hold Ethereum rather than Bitcoin as the interest rates rise. While Ethereum powers such booming market areas as decentralized finance and non-fungible tokens, Bitcoin, similar to gold, is likely vulnerable as bond yields and interest rates rise. According to JPMorgan, crypto investors should be holding Ethereum rather than…