Crypto industry a 'tale of two cities' as institutions opt in
The Digital Asset Summit (DAS) highlighted a dichotomy in the crypto sector as experts discussed institutional engagement versus market stagnation. Michael Ippolito noted an influx of institutions entering the crypto space, while some cryptocurrencies have yet to recover to their previous highs, diminishing the sense of innovation. Meltem Demirors of Crucible criticized this stagnation, indicating that institutions are primarily motivated by profit rather than a shared mission to advance the sector. She also expressed concern over bitcoin's growing dominance, suggesting it reflects a lack of widespread innovation. LMAX Group's David Mercer offered a more optimistic projection, predicting that the digital asset market could swell to between $20 trillion and $30 trillion by the decade's end. He anticipates that significant banks will begin to engage with spot digital asset trading within the next few years, which he believes will spur further institutional adoption. The conversation at DAS underscores the complexities of the current crypto landscape, characterized by both exciting new entries and persistent challenges.
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