Upgrades to the ethereum network could turn crypto staking into a $40 billion industry by 2025, JPMorgan says

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Upgrades to the ethereum network could turn crypto staking into a $40 billion industry by 2025, JPMorgan says

Major upgrades to the ethereum network could help turn crypto staking into a $40 billion business by 2025, according to analysts at JPMorgan. The staking industry - in which users earn cryptocurrency by putting up their own tokens to validate transactions - is currently worth around $9 billion, JPMorgan analysts, led by Kenneth Worthington, said in a note on Wednesday. But that industry could grow to $20 billion after the ethereum network , likely within the next year. And it could then boom to $40 billion by 2025, providing opportunities for crypto holders to earn a reliable yield, JPMorgan said. Worthington and his team also said they see potentially earning around $500 million a year in revenues from staking by the end of 2025. "We see staking as a growing revenue stream for cryptocurrency intermediaries such as Coinbase and a source of income for retail and commercial owners of cryptocurrencies utilizing the proof-of-stake protocol," the note said. "The opportunities to 'earn' will grow meaningfully with the ethereum merge anticipated for later 2021, which will boost the size of the proof-of-stake ecosystem." Developers plan to shift the ethereum network, which runs the cryptocurrency, from a so-called proof-of-work mechanism to a proof-of-stake

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