JPMorgan: Despite the increase in total market value, the growth of the crypto ecosystem slowed down in January

ChainCatcher news, according to CoinDesk, JPMorgan pointed out that the total market capitalization of cryptocurrencies grew by 8% last month, reaching approximately $3.4 trillion.

Despite the increase in total market capitalization, the growth of the crypto ecosystem in January slowed down, with market cap growth concentrated in Bitcoin (BTC), Solana (SOL), and XRP, while the decline in average daily trading volume (ADV) is a common issue across the entire ecosystem.

JPMorgan stated in its report that the monthly performance of decentralized finance (DeFi) and non-fungible tokens (NFTs) was poor, with a more significant deterioration in multiple indicators.