TL;DR Breakdown
• Coinbase could benefit from crypto staking when the Ethereum 2.0 project is launched.
• Payouts on online gambling could rise to $20 billion in the next quarter.
JPMorgan, an analyst company of the United States bank, thinks that crypto staking will become a millionaire market in the coming years. This claim is based on the environmental concerns surrounding Bitcoin and other crypto decreasing.
But the US group indicated that the ETH 2.0 project would benefit the Ether token would drive this new movement. All the changes generated by the new technology will make users dare to venture into gambling.
ETH 2.0 launch
The American analyst’s announcement comes amid concerns about BTC mining among various governments. It is also a tense time for the crypto market because neither Bitcoin nor ethereum has recovered their value.
The crypto mining process focuses on a complex computer network that validates the blocks and performs transactions in Bitcoin. However, this process consumes a lot of energy which is not healthy for the environment.
But Staking is based on acquiring and blocking cryptocurrencies while validating transactions and processing blocks. This makes it a groundbreaking technology that works for low power consumption.
Ethereum is creating the project ETH 2.0, whose contract has been in force since last year. For now, it is in the beta base, so it has not brought notable benefits for crypto staking. ETH 2.0 will represent the staking optimization but based on the Ethereum network that any investor needs.
JPMorgan and its crypto staking
The American analyst, JPMorgan, is confident this project will renew POS payments, which will change crypto staking. The project could see betting payouts rise to $20 billion in the next quarter. By 2025 the analyst predicts these crypto movements in ETH 2.0 could reach $40 billion.
The company thinks that crypto staking will reduce the opportunity to hold crypto compared to other tokens. Even this project could make cryptocurrencies improve their nominal performance.
Besides the growth in gambling after the Ethereum 2.0 launch, JPMorgan clarifies that gambling will be a source of income. Crypto companies like Coinbase can profit from this influx in transactions within the United States and internationally.
However, these companies could accept passive products for merchants, who play on their behalf and pay on credit. This crypto staking opportunity could mark a $200 billion figure in 2022 for Coinbase.
JPMorgan aims high with Ethereum 2.0, and this project may achieve its goals. For now, the platform has almost 180 thousand validators preparing to work on the POS consensus. This technology is backed by the crypto company ETH, which controls the Ether token that could skyrocket in value upon launch.
