In a recent quarterly report published last week, investment bank Architect Partners declared that the digital asset industry has surged in value by over $750 billion in the first half of this year.

According to the report, the cryptocurrency sector is entering a significant phase of growth. Architect Partners highlighted that the industry’s value increased by more than $750 billion in the initial six months of the year.

Describing crypto as the “stepchild of the internet,” the advisory firm noted that it is now surpassing its predecessor in performance during similar stages of their respective development cycles.

“The digital asset industry is experiencing a major growth phase and is in a much stronger position than it was just two years ago,” the report stated.

Architect Partners emphasized that the substantial increase in crypto industry value was driven by several factors. These include a remarkable rise in the value of crypto tokens, totaling more than $700 billion, the successful launch of spot Bitcoin (BTC) exchange-traded funds (ETFs) in the United States, which attracted over $15 billion, and the appreciation of publicly listed crypto companies, contributing an additional $11 billion.

Highlighting the similarities between crypto and the internet as disruptive technologies, the report pointed out that the cryptocurrency market has recovered from the so-called crypto winter much faster than the internet rebounded after the dot-com bubble burst in 2000.

“Ironically, crypto has often been viewed as the underdog compared to the internet,” Architect noted, “but it is now surpassing its predecessor and exceeds the internet’s value at comparable stages of their life cycles.”

The report also underscored a significant uptick in deal activity, with the announced transaction value reaching a record high of $2.7 billion in the second quarter. This surpasses the combined value of the previous eight quarters, signaling a resurgence in confidence and momentum within the markets.

With the crypto winter now behind them, Architect Partners observed that “professionalism, risk management, ethical behavior, and ‘doing it right’ are finally becoming the foundational principles of crypto.”

As the digital asset industry continues to evolve and expand rapidly, it appears poised to redefine the financial landscape in the coming years.

Source: Coindesk