{"id":11743,"date":"2021-09-04T16:54:09","date_gmt":"2021-09-04T16:54:09","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/jpmorgan-says-cryptocurrency-markets-are-looking-frothy\/"},"modified":"2021-09-04T16:54:09","modified_gmt":"2021-09-04T16:54:09","slug":"jpmorgan-says-cryptocurrency-markets-are-looking-frothy","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/jpmorgan-says-cryptocurrency-markets-are-looking-frothy\/","title":{"rendered":"JPMorgan Says Cryptocurrency Markets Are \u2018Looking Frothy\u2019"},"content":{"rendered":"

Global investment bank JPMorgan says cryptocurrency markets are \u201clooking frothy\u201d as retail investors spill over from the stock market into cryptocurrencies and non-fungible tokens (NFTs).<\/strong><\/p>\n

Crypto Markets Look Frothy, According to JPMorgan<\/h2>\n

JPMorgan published a note Wednesday on the stock market and cryptocurrencies. It explains that retail investors bought stocks at a record pace over the summer with an estimated net flow into the U.S. stock market of $13 billion in August after reaching a record high of almost $16 billion in July.<\/p>\n

The JPMorgan analysts asserted that the stock-buying frenzy spilled over into altcoins and non-fungible tokens (NFTs) in August, and the surge in NFTs and decentralized finance (defi) activity has boosted the price of certain cryptocurrencies, such as ethereum, solana, and cardano.<\/p>\n

They wrote:<\/p>\n

Cryptocurrency markets [are] looking frothy again.<\/p>\n

As Bitcoin.com News reported<\/a>, the crypto market gained approximately 83% in value over the last three months, led by altcoins. The global crypto market cap is currently $2.28 trillion. Bitcoin\u2019s dominance slipped from 47% on Aug. 1 to 41.39% Saturday. Ethereum (ETH<\/a>) currently represents 20.13% of the entire crypto market, followed by cardano (ADA<\/a>) at 4.11%. Solana (SOL) represents 1.80%.<\/p>\n

Solana has become one of the top-performing cryptocurrencies this year. At the price of $141.04 per coin, SOL is now the seventh-largest crypto by market capitalization. The coin gained<\/a> 310.8% during the last month and 3,277.6% year-to-date.<\/p>\n

<\/p>\n

The JPMorgan analysts noted that altcoin trading now represents about 33% of the crypto market, emphasizing that it was a big increase from the 22% reading in early August. They concluded:<\/p>\n

The share of altcoins looks rather elevated by historical standards and in our opinion it is more likely to be a reflection of froth and retail investor \u2018mania\u2019 rather than a reflection of a structural uptrend.<\/p>\n

What do you think about the comments by JPMorgan\u2019s analysts? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nMarkets and Prices, cryptocurrency market, frothy crypto market, frothy market, jpmorgan, jpmorgan analysts, jpmorgan crypto market, jpmorgan prediction, market outlook, market prediction<\/p>\n","protected":false},"excerpt":{"rendered":"

Global investment bank JPMorgan says cryptocurrency markets are \u201clooking frothy\u201d as retail investors spill over from the stock market into cryptocurrencies and non-fungible tokens (NFTs). Crypto Markets Look Frothy, According to JPMorgan JPMorgan published a note Wednesday on the stock market and cryptocurrencies. It explains that retail investors bought stocks at a record pace over…<\/p>\n","protected":false},"author":0,"featured_media":11744,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-11743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11743"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=11743"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11743\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/11744"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=11743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=11743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=11743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}