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JPMorgan says that the markets for cryptocurrencies look foamy - markets and prices Bitcoin News
The global investment bank JPmorgan says that the markets for cryptocurrencies "look foamy" because private investors from the stock market flop into cryptocurrencies and non -fungible tokens (NFTS). According to JPMorgan, cryptoma markets from JPmorgan published a note on the stock market and cryptocurrencies on Wednesday. She explains that private investors bought stocks in a record pace in the summer, whereby the net inflow to the US stock market was estimated at $ 13 billion in August after they had reached a record high of almost $ 16 billion in July. The analysts of JPmorgan claim that the shares in the share in August flocked to old coins and not fungible tokens (NFTS), and the ...
JPMorgan says that the markets for cryptocurrencies look foamy - markets and prices Bitcoin News
The global investment bank JPMorgan says that the markets for cryptocurrencies "look foamy" because private investors from the stock market into cryptocurrencies and non -fungible tokens (NFTS) flop.
according to the JPmorgan look cryptoma markets foamy
jpmorgan published a note on the stock market and cryptocurrencies on Wednesday. She explains that private investors bought stocks at a record pace in summer, with the net inflow to the US stock market in August estimated at $ 13 billion after they had reached a record high of almost $ 16 billion in July.
The analysts of JPMorgan claim that the shares in the share in August spilled over to old coins and non -fungible tokens (NFTS), and the increase in NFTS and decentralized financial activities (Defi) had the prize of certain cryptocurrencies such as Ethereum, Solana. driven up, and Kardano.
You wrote:
cryptocurrency markets [are] looks back.
as Bitcoin.com News , the cryptomarkt has been round in the last three months 83 % gained value, led by old coins. The global crypto market capitalization is currently $ 2.28 trillion. The dominance of Bitcoin slipped from 47% on August 1 to 41.39% on Saturday. Ether ( eth ) currently accounts for 20.13 % of the entire cryptomarkt, followed by Cardano ( ada ) at 4.11 %. Solana (Sol) is 1.80%.
Solana has developed into one of the most powerful cryptocurrencies this year. At the price of $ 141.04 per coin, Sol is now the seventh largest crypto after market capitalization. The coin won 310.8 % last month and last month and 3,277.6 % since the beginning of the year.
The JPMorgan analysts found that the old coin trade is now about 33% of the cryptom market, and emphasized that this was a great increase compared to the 22% in early August. They came to the conclusion:
The proportion of old coins looks rather high in the historical comparison and in our opinion is more of a reflection of the foam and the "mania" of private investors as a reflection of a structural upward trend.
What do you think of the comments of the analysts of JPmorgan? Let us know in the comment area below.
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