JPMorgan: Cryptocurrency market lacks short-term significant catalysts
In a research report on Friday, JPMorgan Chase (JPM) pointed out that as of the end of last month, the total market value of cryptocurrencies was $2.02 trillion, down 24% from its peak in March, and said it is waiting for the next development catalyst and an "increase in retail participation".
Analysts led by Kenneth Worthington wrote: "Overall, we continue to see a lack of significant catalysts in the crypto ecosystem, so we expect cryptocurrency tokens and asset prices to be more sensitive to macro factors."
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