Bitcoin’s Price Volatility May Hamper Its Progress Above $50K, JPMorgan Says
The bank's analysts pointed to gold's much lower volatility.
Liink, JPMorgan’s blockchain banking network, is based on a fork of Ethereum.
With liquidity falling in the bitcoin market, smaller trades can have a relatively large price impact.
The experiment was to trial payments for the internet of things in a "fully decentralized way," said Umar Farooq.
"If any issues arise that could affect the willingness or ability of both domestic and foreign investors to use USDT, the most likely result would be a severe liquidity shock to the broader cryptocurrency market," the report says.
The purchases suggest institutional investors’ appetite for crypto exposure in the bull market goes far beyond bitcoin, or even ether.