The demand for crypto has been one of the hot topics across the crypto market over the last few months. This is judged by the decline in the number of traders willing to purchase assets due to the turndown in the market’s fortunes. With this, JP Morgan has positioned that the demand for crypto as usage for payments has been on a downward trajectory over the last few months. However, the bank mentioned that crypto usage in the metaverse has been tremendous across the last few months.
JP Morgan exec believes in the metaverse
In an interview hosted by Bloomberg, an executive of the bank talked primarily about this topic, citing how factors have affected the demand for crypto as a means of payment by clients. The executive mentioned that there usually was a surge of demand in that respect over the last few months, but things have changed drastically at the moment.
Although he mentioned that demand in that aspect has been on a downward spiral, he positioned that it has not stopped the company from providing services to those that wish to use digital assets for that purpose. He noted that the gaming sector is one aspect where the usage of these assets is seeing a significant uptick. The executive pointed out the metaverse as an aspect of the market presently showing promise.
Survey shows a slowed usage of crypto
Some days ago, CEO of the bank Jamie Dimon reiterated his position on digital assets, especially Bitcoin. In his statement, Dimon mentioned that he is still not…