The crypto market organized a gross rebound (JPM) said Thursday in a research report.
The average market capitalization increased by 12% during the same period, driven by broad -base gains through the tokens, decentralized finance (Challenge)Non -pounded tokens (Nft) and products negotiated in exchange (ETPs)but ether (Eth) stole the spotlight, according to the report.
Ether’s market capitalization increased by 49% last month, far exceeding the gain of 8% bitcoin. JPMorgan attributed the partially moved to the dominant role of Ethereum blockchain in the delivery of stables and the growing institutional flows in products related to ETH.
US SPOT Ether ETPS experienced a record of $ 5.4 billion in net entrances, rising the total assets of ETH ETH at $ 21.5 billion, JPMorgan said. Bitcoin
Stock market negotiated funds (ETF) Adding $ 6 billion, bringing their assets combined under management to $ 152 billion.
Commercial activity has accelerated, with average daily volumes through the ecosystem, jumping 49% in July, noted the bank. Coindesk data showed tokens volumes increasing 51% MOM. The volumes of ether tokens jumped 60%, or four times the increase of 15% of Bitcoin. The DEFI and NFT markets have also recorded significant volume growth.
JPMorgan underlined the adoption of the Act on Engineering, a growing list of initial public offers related to Crypto (IPO)And deepen the partnerships between traditional finance and decentralized finance as key engines behind the rally.
The bank said that these factors, in parallel with a broader feeling of risk on the world markets, suggest that recent prices and volume gains may prove to be durable.
Find out more: The target of Ether Prix is lifted at $ 7.5,000 at the end of the year and $ 25,000 in 2028 in Standard Charteréd
