The Crypto Roundup: 09 February 2024 | CryptoCompare.com

Banking giant JPMorgan has recently surveyed over 4,000 institutional traders, and found that 78% of them indicated no plans to trade digital assets within the next five years.

The bank’s e-Trading annual survey also revealed a small group of institutional traders see blockchain technology as the most influential in shaping the future of trading, while showing a sit in focus towards artificial intelligence (AI) and machine learning, with 61% of respondents viewing these technologies as the most impactful on trading in the coming three years.

AI and machine learning have been gaining steam, with just 25% of respondents pointing to these as the most impactful technologies two years ago, while blockchain technology dropped from 25% of respondents in 2022 to just 7% this year.

The declining interest in blockchain and cryptocurrency trading aligns with the cooling off of the digital currency market following the 2021 bull run, which led to a challenging period for the industry characterized by bankruptcies and market downturns.

Despite these results, there has been a slight uptick in engagement within the sector, with 9% of surveyed traders currently involved in cryptocurrency, up from 8% last year, while 12% of respondents revealed they plan on trading crypto within the next five years.

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• Source: https://www.cryptocompare.com/email-updates/daily/2024/feb/09/