According to Architect Partners, cryptocurrencies are poised for a big boom, surpassing the previous performance of the internet.
In its quarterly report published last week, investment bank Architect Partners stated that the cryptocurrency industry has entered a big boom phase. The report emphasized that the sector experienced a value increase of more than 750 billion dollars in the first half of the year.
Value Increase of the Cryptocurrency Market
According to the report, the $750 billion increase in the total value of the cryptocurrency market occurred with the launch of spot Bitcoin ETFs in the USA and these funds received investments of over $15 billion. It was also emphasized that the cryptocurrency market recovered from the bear market much faster than the internet recovered after the dot-com bubble burst in 2000.
Similar Technologies of Cryptocurrencies and the Internet
The report stated that cryptocurrencies and the internet have similar technologies. Architect Partners stated the following:
"Ironically, crypto was the stepchild of the internet, but it is now outperforming its predecessor. It exceeds the value of the internet in the same part of its cycles. Transaction activity is also increasing; the reported transaction value in the second quarter reached a record $2.7 billion, surpassing the combined value of the previous eight quarters."
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