JPMorgan Reports Decline in Cryptocurrency Market Value

According to Odaily, JPMorgan released a research report on Friday indicating that the total market value of cryptocurrencies stood at $2.02 trillion at the end of last month, marking a 24% decline from its peak in March. The report suggests that the market is currently awaiting the next catalyst to boost retail participation. Led by analyst Kenneth Worthington, the team stated, 'Overall, we still believe the crypto ecosystem lacks significant catalysts, and therefore, we expect crypto token and asset prices to become more sensitive to macroeconomic factors.'