JPMorgan: Despite the Increase in Cryptocurrency Market Capitalization, Growth in the Cryptocurrency Ecosystem Slowed in January

BlockBeats News, February 11, JPMorgan Chase pointed out that last month the total cryptocurrency market capitalization grew by 8% to around $3.4 trillion. Despite the increase in total market capitalization, the growth of the crypto ecosystem in January slowed down, with market cap growth concentrated in Bitcoin (BTC), Solana (SOL), and XRP, while the average daily trading volume (ADV) decline was prevalent across the entire ecosystem.

JPMorgan Chase stated in its report that decentralized finance (DeFi) and non-fungible tokens (NFTs) performed poorly in the month, with a greater deterioration in multiple indicators.