JP Morgan Report: DeFi and NFT markets show initial signs of recovery
JPMorgan stated in a research report on Thursday that in recent months, as the expected approval of the US-listed bitcoin exchange-traded fund (ETF) improved the sentiment of the cryptocurrency market, decentralized finance (DeFi) and non-fungible token (NFT) activities have shown signs of recovery. The report stated that this growth occurred after a slowdown in the past two years, "therefore, people are optimistic that the worst period for DeFi/NFT activities may have passed in terms of the mid-term trajectory." The report also stated that the Ethereum blockchain does not seem to have benefited from the recent recovery of DeFi and NFT activities and faces issues related to "network scalability, slow transaction speed, and high fees," as well as competition from other layer-one chains.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Big Tech stocks extend rally on Chinese tariff pause
Even with an uncertain outlook thanks to tariffs, Big Tech executives are still ramping up their AI investments
SOL is up and memes are back
Bridge flows churn in both directions as risk appetite returns
Ethereum Rises, Bitcoin Stable: Upcoming Cryptocurrency Trends Unveiled
Examining OBV Slump and Bitcoin's Dip: Predicting the Next Turn in Cryptocurrency Market
Expert Predicts Sui Could Emulate Solana’s Meteoric Rise
In Brief Kaleo identifies Sui's market behavior as akin to Solana's past rise. Sui, Dogecoin, and Bitcoin show potential for significant growth. Social media influence could drive Dogecoin prices upward.
Crypto prices
More
