JPMorgan Criticizes Crypto Market Over Stablecoin Report!

According to JPMorgan's latest report, the growth in stablecoin supply did not increase its share of the total crypto market.

A recent report by JPMorgan states that stablecoin growth is a reflection of the increase in total crypto market value, parallel to the price increases in Bitcoin and Ethereum this year.

While stablecoins are generally known as cryptocurrencies pegged to the dollar, some can also be indexed to different assets such as gold or other currencies. JPMorgan analysts point out that the share of stablecoins in the total crypto market value has changed very little throughout this year.

The report states that the stablecoin market value has increased to $165 billion, approaching the peak of $180 billion before the Terra/Luna crash. There are several important factors behind this growth.

The huge gains seen in Bitcoin and Ethereum prices this year have caused an increase in the value of the crypto market, which has triggered the growth of the stablecoin supply. These tokens are in greater demand due to their use as collateral in crypto lending and other transactions.

It is also stated that investors have started to use stablecoins more to access the crypto markets after the launch of spot Bitcoin exchange-traded funds (ETFs) in the US in January. The demand for stablecoins from the traditional financial world has also increased.

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