November Was a ‘Monumental’ Month for the Crypto Market, JPMorgan Says
November was a monumental month for the crypto market in terms of performance, activity, politics and sentiment, JPMorgan (JPM) said in a research report Monday.
“President-elect Donald Trump’s reelection triggered a historic rally and jump in market caps across the crypto ecosystem,” analysts led by Kenneth Worthington wrote. This included tokens, decentralized finance (DeFi), stablecoins and publicly listed companies with crypto exposure.
The bank noted that the crypto ecosystem recorded its best monthly return, with its market cap rising 45%. Total crypto market cap swelled to $3.3 trillion.
Volumes across the crypto market more than doubled, with some digital assets witnessing even higher growth in trading activity, the report…
