November marked a historic surge in the crypto market, with total market capitalization rising by an unprecedented 45%, reaching $3.3 trillion, according to JPMorgan. “President-elect Donald Trump’s reelection triggered a historic rally and jump in market caps across the crypto ecosystem,” said the bank’s analysts, led by Kenneth Worthington. They explained that the rally bolstered sentiment across the crypto ecosystem, including tokens, decentralized finance (defi), and stablecoins. Trading volumes more than doubled, although NFTs lagged in activity. U.S. spot crypto exchange-traded products (ETPs) set a new record, with combined net sales hitting $7.6 billion. Bitcoin ETPs gained prominence, amassing $105 billion in assets and contributing to Bitcoin’s increased market dominance, despite a recent dip due to ETP-driven diversification. Mining economics improved as Bitcoin’s price surged faster than its hashrate, underscoring robust network security. JPMorgan highlighted this as the market’s strongest month in performance, activity, and sentiment, affirming crypto’s growing role in financial markets.
Ethereum Worth to Skyrocket? $402 Million Value ETH Outflow
Ethereum (ETH), the world’s second-largest cryptocurrency by market cap, is poised for a large upside rally. It has lately shaped a bullish worth motion sample on a month-to-month timeframe. A crypto professional posted on X (previously Twitter), sharing an ETH chart and highlighting the way it mirrors Bitcoin’s (BTC) chart...
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