The “institutions come” was one Popular mantra In the digital currency space just a few years ago.
While some came, for example Black rock (Nasdaq: Blk) and Vanguard, with its BTC ETFs, the latest report on etching from JPMorgan (Nasdaq: JPM) suggests that the vast majority are not interested, and the number of traders who think blockchain is an important technology has decreased sharply.
The year JPM ETRADING Survey Examined 4,200 institutional traders. It showed that 71% of institutional investors do not intend to get involved. 13% currently acts and 16% plan to enter the market.
While the price of BTC increased significantly during the months following the Blackrock ETF Consultation in January 2024, the industry is fighting to find a new story as Memecoin Mania Damages its credibility, trade war weigh heavy on the market’s feeling and retailers struggle with persistent inflation and the ongoing cost of living.
Blockchain and digital currencies lose credibility
JPM ETRADING SUVANS included a question about blockchain technology is an important technology for the future. Only 7% of respondents responded to the confirmation, from 12% last year. This shows that serious players are losing interest.
It’s no wonder when you think about it. While Blockchains like BSV to scale to one million transactions per second (TPS) and company such as Certihash revolutionize cyber securityThese blockchain breakthroughs get some attention.
Instead, digital currency publications and viral X posts focus on Solana Memecoin pump and dumps and all the signs that more Fiat will pump the price of their bags. Just last month the industry was brilliant on the prospects US taxpayers Used to buy BTC, XRP and other “American Made” coins. So much for free markets and freedom!
If we were under any illusion that this madness was contained within a small sphere on the Internet and would not affect the reputation of technology in general, it was crushed this week when Argentine President Javier Milei was himself in the middle of a Meme -coinage fraud. Literally, State Managers from Trump to Milei get stuck in the latest crypto man that will be nothing.
Yet blockchain is an important technology in the long term
Even though they do not take hold of many headings, Scalable blockchain technology has a bright future and is likely to play an integrated role in everything from cross -border payments to mitigate the worst potential effects of artificial intelligence (AI).
While all focus has been on token speculation Over the past decade, those who believe in the blockchain potential have worked extensively in the background and they are starting to get impressive results.
Just some of the remarkable performance in blockchain recently includes:
Sooner or later, the world will wake up and realize that scalable distributed book is a gaming exchange, and the coins linked to them is just a way to write transactions to the book.
Until then, it looks like we must suffer a new round of degrading “fraud” as President Memecoins And tens of thousands of pump -fun tokens injured further reputation for an industry that has already been drawn through the clay.
Still, when everything is said and done, tool technology will be here, the apps will be ready and everything from payments to cyber security to data management and communication will be converted.
Until then, you can expect that the interest of the serious players remain muted. The institutions will not comeAnd seriously changes in the economic order On the horizon, another brutal bear market is more likely than the bull market that many had hoped and waiting for.
Watch: Developers can drive BSV -Blockchain forward
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