JPMorgan Chase: AI Predicts Price After the JPMD Stablecoin Launch

Juhi Mirza
JP Morgan
Source: electric-vehicles.com

JP Morgan Chase has lately adopted an exploratory stance. The firm is engaging in a plethora of blockchain-centric activities, whether it’s conducting cross-chain transfers via Chainlink or exploring the possibility of launching a potential stablecoin in the near future. Whatever may be the case, JPM, being the biggest banking giant, is actively exploring cryptocurrency, signalling a massive shift in the financial dynamics that is truly very hard to miss. Will this new exploration help JPM stock price surge high on the radar? Let’s find out.

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JP Morgan and Chase’s Stablecoin Dreams

JP Morgan Building
Source: Reuters

JP Morgan Chase has filed for a potential JPMD trademark, taking the markets by sweet surprise. The filing is indicative of a new blockchain product, speculated to be a stablecoin that the financial giant is looking forward to launching in the near future. The firm’s application filed with the US Patent and Trademark Office showcases JPM’s rising interest in the digital asset domain. Moreover, the filing displays the firm’s intent to offer a wide range of crypto-centric services, such as digital asset trading and exchange transfers, as well as exploring clearing and processing processes.

“JPMorgan Chase Bank, N.A. has filed a trademark application with the USPTO for “JPMD,” covering digital asset trading, exchange, transfer, and payment services, as well as electronic fund transfers, securities brokerage, real-time token trading, custody services, and secure online financial transactions.”

Such an expansive service portfolio is also indicative of the firm trying to establish its dominion in the rising stablecoin domain. The US government is also actively preparing to debut the GENIUS stablecoin bill, the one that delivers a unified stablecoin infrastructure for the industries to tinker with. JP Morgan’s idea of launching JPMD coincides with the launch of GENIUS, which is currently in its last stage of launch and is being reviewed in the Senate at present.

JPM Stock Analysis: Impact on Price Once the Stablecoin Debuts

JP Morgan and Chase stock is currently sitting at $264, eyeing a high of $330 in the near future.

JPM STOCK STATS
Source: TipRanks

“The average price target for JPMorgan Chase is 279.40. This is based on 21 Wall Street analysts’ 12-month price targets, issued in the past 3 months. The highest analyst price target is $330.00, and the lowest forecast is $235.00. The average price target represents a 3.34% increase from the current price of $270.36.”

Per AI, JPMorgan stock can surge up to $280 in a base case scenario. In a more bullish projection, AI believes JPM stock can soar to claim the $302 to $310 price mark gradually.

The platform further predicted that institutional demand and trust in the stablecoin will be the biggest catalysts that could help the stock stabilize in the long run.

JPM STATS
Source: ChatGPT

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