JPMorgan: Crypto Ecosystem Growth Slows in January Despite Total Market Cap Rise

The total market cap of cryptocurrencies rose 8 percent last month to approximately $3.4 trillion, according to JPMorgan Chase. Despite the rise in total market cap, growth in the crypto ecosystem slowed in January, with market cap growth concentrated in Bitcoin ( BTC ), Solana ( SOL ), and XRP, while a decline in average daily trading volume (ADV) was widespread across the ecosystem. Decentralised finance ( DeFi ) and non-homogeneous tokens ( NFT ) had poorer monthly performances, with greater deterioration in a number of metrics, JPMorgan Chase said in its report.