Better days ahead with crypto deleveraging coming to an end — JPMorgan
— Crypto firms could, Market, Rumors, Close, Stating :“, Fried ’, End, Ftx, 934 billion, June 30 report — 1 min read
JPMorgan strategist Nikolaos Panigirtzoglou says deleveraging of crypto market could be coming to an end. He sees increased willingness of firms to bail out struggling companies and healthy pace of venture capital funding in May and June as a good sign. Since November 2021, when the total crypto market cap topped $3 trillion, it has fallen below $1 trillion to $934 billion, according to CoinGecko. The latest predictions from JPMorgan should blow fresh air into crypto investors in 2022 who have endured what Glassnode has deemed the worst bear market in the history of crypto trading. The FTX exchange is reportedly positioning itself to expand its influence across the industry, with rumors swirling that it is offering to buy BlockFi crypto lending platform BlockFi for $25 million. Source