Bernstein: The liquidity of the crypto market may shift from meme coins to practical token areas such as DeFi, gaming, and NFTs
ChainCatcher reports, according to The Block, that investment research firm Bernstein's analysts suggest that as the regulatory environment improves, liquidity in the crypto market is expected to shift from meme coins towards utility tokens such as DeFi, gaming and NFTs. Chief Analyst Gautam Chhugani points out that recent growth in meme coin activity mainly stems from former SEC Chairman Gensler's regulatory pressure on utility tokens and NFT projects.
The report shows that Paul Atkins, a pro-cryptocurrency individual nominated by Trump, is likely to become the chairman of the SEC. Coupled with the fact that the SEC has agreed to withdraw its lawsuit against a US-based CEX and terminate its investigation into OpenSea, it indicates a changing regulatory attitude. Bernstein predicts Bitcoin prices will reach $200k by year-end primarily due to national strategic reserve plans, ETF fund inflows and continued corporate holdings.
Analysts emphasize stablecoins and tokenization of physical assets will be industry focuses expected to play significant roles in areas like cross-border B2B payments and global interbank settlements.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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