The cryptographic market organized a strong rebound in July, with a total market capitalization rising 14% from the previous month to $ 3.7 billion, Wall Street Bank Jpmorgan (JPM) He said in a research report on Thursday.
Average market capitalization increased by 12% in the same period, driven by wide base profits on tokens, decentralized finances (Defi)Non -fungible tokens (NFT) and products quoted in exchange (ETP)But ether (Eth) He stole the attention center, according to the report.
Ether’s market capitalization increased 49% last month, far exceeding Bitcoin’s gain. JPMorgan attributed the movement in part to the dominant role of Ethereum Blockchain in the emission of Stablecoin and the growing institutional flows in products linked to ETH.
ETPS Spot Ether from the United States. Bitcoin
Stock Exchange Funds (ETF) $ 6 billion was added, carrying its combined assets under administration to $ 152 billion.
The commercial activity accelerated, with average daily volumes throughout the ecosystem that jumps 49% in July, the bank said. Coendesk data showed that tokens volumes increased 51% of mom. Ether token volumes increased 60%, four times the 15% bitcoin increase. Defi and NFT markets also registered significant volume growth.
JPMorgan pointed out the approval of the genius law, a growing list of initial public offers linked to crypto (Opi)and deepening associations between traditional finances and decentralized finances as key drivers behind the rally.
The bank said that these factors, together with a broader feeling of risk in global markets, suggest that recent prices and volume gains could be sustainable.
Read more: Ether’s target price rose to $ 7.5K at the end of the year and $ 25K in 2028 at Standard Chartered
