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Investing In DeFi Protocols And NFTs? Bank Of America Anticipates Bull Run

The market is still recovering and uncertainties linger. While conventional cryptocurrencies have gained popularity, institutional investors are also not shying away from investing in DeFi protocols. The latest report from Coinbase, the world’s largest cryptocurrency exchange finds that institutional investors are behind the 2021 DeFi explosion. 

If you are investing in DeFi or planning to, this could be the best time to enter the market. One of the leading American banks, the Bank of America, has published a report in which it clearly predicts a bull run for NFTs and DeFi protocols. The report finds that the market for NFTs and DeFi sectors are poised to grow in the coming years and the prices could go up in the short term.

Acknowledging the potential of cryptocurrencies and the NFTs, the bank says that the cumulative market cap of over 2.15 trillion is huge and cannot be ignored. It categorically identifies the importance of investing in DeFi and NFTs and says that the market is much more than just Bitcoins and other leading altcoins. 

It mentions that there is a market for “tokens that act like operating systems, decentralized applications (DApps) without middlemen, stablecoins pegged to fiat currencies, central bank digital currencies (CBDCs) to replace national currencies, and non-fungible tokens (NFTs) enabling connections between creators and fans.” 

Commenting on their particular interest in digital assets, the report asserts: “For us, digital assets are not about payments per se. They’re about a new computing paradigm – a programmable computer that is accessible everywhere and to anyone and owned by millions of people globally.”

Investing In DeFi And NFTs

The DeFi market is exploding. Investing in DeFi is now no longer limited to retail or private investors but conventional and institutional investors are also capitalizing on the opportunities. The Bank of America report also mentions how the first half of 2021 saw a massive $17 billion invested compared to just  $5.5 billion during the same period the previous year. 

Apart from DeFi, NFT marketplaces have also seen an unprecedented increase in sales. New players are entering the market. One of the leading NFT marketplaces Opensea has generated over 2.5 billion dollars in revenue in the first half of 2021 alone. 

If you are looking to invest in DeFi and start with NFT trading or collection, this could be a great time. The latest BOA report will only strengthen the investor sentiments and trigger the prices further in the short run. 




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