JP Morgan calls majority of cryptocurrencies a "junk" with no use-cases yet. Harsh criticism, but we cant disagree...

In another of JP Morgans statestments for Crypto they have just said that the majority of cryptocurrencies are a "junk" and the use cases of them have not "fully-evolved" yet. This is a pretty harsh critic for Crypto to call it "mostly" a junk but you can see where they are going with it and it's at least understandable.

Obviously if you look at the crypto market we have 20k individual cryptos out of which 80% honestly do the same with just minor changes and the rest is probably new ideas that are either a straight up scam or too risky. Generally you can clearly see that there are thousands of scams in this space right now that make no contribution to the space but just get investors because of funny names.

That's truth. There are indeed a lot of projects out there that do nothing for Crypto but are just made to get money for themselves.