The cryptocurrency market recorded its best monthly return in November with a 45% rise in market cap, reaching $3.3 trillion. Volumes across the crypto market more than doubled, with bitcoin becoming increasingly dominant.
The crypto ecosystem recorded its best monthly return, with its market cap rising 45%.
The total crypto market cap swelled to $3.3 trillion.
Volumes across the crypto market more than doubled, with some digital assets witnessing even higher growth in trading activity.
Non-fungible token (NFT) volumes were weaker.
The U.S. spot exchange-traded products (ETPs) tracked by the bank witnessed record monthly net sales, around $7.6 billion combined.
Bitcoin ETPs grew in both size and trading volume.
The ecosystem continues to trend increasingly concentrated around bitcoin, according to JPMorgan analysts.
Mining economics improved in November as the rally in the world’s largest cryptocurrency outpaced hashrate growth. Hashrate refers to the computational power securing the Bitcoin network.
Crypto markets have benefited from a positive environment since the U.S. election: Citi.
Bitcoin ETPs grew in both size and trading volume, but these products are not eating away at BTC spot trading volumes. The ecosystem continues to trend increasingly concentrated around bitcoin.
