Crypto Market Recovery Unlikely Until Stablecoin Universe Stops Shrinking: JPMorgan

The stablecoin universe continues to shrink, and until this stops, a sustained recovery in crypto prices is unlikely, JPMorgan said in a research report Thursday.“Headwinds from the U.S. regulatory crackdown on crypto, the unsettling of banking networks for the crypto ecosystem and the reverberations from last year’sare weighing on the stablecoin universe which continues to shrink,” analysts led by Nikolaos Panigirtzoglou wrote.

Despite a positive start to the year, cryptocurrency prices have slumped in the past month with the industry's overall market cap dropping from $1.26 trillion on April 13 to $1.089 trillion. The U.S. regulatory clampdown continues to take its toll on USD Coin , which has experienced a loss of stablecoin market share at the expense of Tether , the report said.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Ripple buys Swiss crypto custody company Metaco for $250 millionRipple said Wednesday that it had acquired digital asset custody company Metaco for $250 million. The move is a big bet on a key segment of the crypto market.
La source: sfexaminer - 🏆 236. / 63 Lire la suite »

NZD/USD rally capped by strengthening US Dollar, housing market recoveryNZD/USD holds to its earlier gains but retraces after piercing the 200-day Exponential Moving Average (EMA) at 0.6256, as data from the United States
La source: FXStreetNews - 🏆 14. / 72 Lire la suite »

Bitget Financial Statistics Revealed in Q1 Transparency Report Shows Clear Signs of Market RecoveryCrypto exchange bitgetglobal statistics in Q1, 2023 confirms clear signs of market recovery
La source: Utoday_en - 🏆 295. / 63 Lire la suite »

Ripple CEO Incredibly Bullish on Company's Trajectory Despite Crypto WinterRipple CEO remains positive on company's direction amid crypto winter RippleXRP XRPArmy XRPCommunity XRPHolders
La source: Utoday_en - 🏆 295. / 63 Lire la suite »