Concerns about a so-called ‘crypto winter’ have not frozen investor interest in the sector, Bank of America (BAC) said in a report Tuesday, following its Web3 & Digital Assets Day Conference, which took place last week.
Conversations with some of the 160 clients who attended the event made clear that “blockchain technology and the digital asset ecosystem are here to stay,” the report said, and the bank remains optimistic for mainstream digital asset adoption.
The bank said some speakers pointed out that the most innovative projects were built during previous downturns in the market, and that recent declines, whilst painful, are “likely healthy for the ecosystem’s development over the long term.”
“Client engagement continues to grow and focus remains on the rapid development and disruptive nature of blockchain technology, despite falling token prices and headlines suggesting the ecosystem’s demise has arrived,” the note said.
Participants speaking at the event said regulatory...
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