News Formal

Crypto Market Recovery Unlikely Until Stablecoin Universe Stops Shrinking: JPMorgan

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

Indonesia Berita Berita

Indonesia Berita Terbaru,Indonesia Berita utama

.jpmorgan says it's hard to see a sustained recovery in crypto prices without the shrinkage of the stablecoin universe stopping. willcanny99 reports.

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.

Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut:

 /  🏆 291. in İD
 

Terima kasih atas komentar Anda. Komentar Anda akan dipublikasikan setelah ditinjau.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

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.
Sumber: sfexaminer - 🏆 236. / 63 Baca lebih lajut »

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
Sumber: FXStreetNews - 🏆 14. / 72 Baca lebih lajut »

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
Sumber: Utoday_en - 🏆 295. / 63 Baca lebih lajut »

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
Sumber: Utoday_en - 🏆 295. / 63 Baca lebih lajut »