JPMorgan says that the markets for cryptocurrencies look foamy - markets and prices Bitcoin News
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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