The current cryptocurrency frenzy has been driving the major decentralized currencies to all-time highs. The trend is expected to continue given rising inflation concerns and volatile currency exchange rates. Thus, crypto stocks Marathon Digital Holdings (MARA), Riot Blockchain (NASDAQ:), and Silvergate Capital (NYSE:) are expected to deliver solid upside in the coming months. In fact, Wall Street analysts expect them to gain more than 90%. Read on.The cryptocurrency frenzy is building each day as investors shift to decentralized currencies amid rising inflation fears and U.S. dollar volatility. Approximately 46 million people, or 17% of the adult population in the United States, own at least some .
The U.S. is rapidly embracing the blockchain currency ecosystem. Fintech companies FIS Ventures and New York Digital Investment Group (NYDIG) recently partnered to enable U.S. commercial banks to offer crypto transactions to their customers through personal accounts. Also, major companies are actively enabling crypto-based transactions for the purchase and sale of goods and services.
Considering these developments, increasing numbers of investors are betting on cryptocurrencies. Furthermore, with the Federal Reserve lagging other central banks in developing digital dollars, the crypto frenzy in the United States is likely to continue in the near term. Thus, Wall Street analysts expect crypto players Marathon Digital Holdings, Inc. (MARA), Riot Blockchain, Inc. (RIOT) and Silvergate Capital Corporation (SI) to garner significant gains in the coming months.
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