JPMorgan Predicts Limited Upside for Crypto Markets
JPMorgan said the drop of stablecoins’ share in the total crypto market will result in limited upside for crypto prices. According to the bank, the share of stablecoins in the total crypto market has fallen from 7% to 10%. People consider stablecoins as cash on the sidelines for buying cryptocurrencies. Global investment bank JPMorgan Chase & Co. warned through Insider that people could expect further upside in crypto markets to be limited. Their projection came from the relationship of stablecoins and the rest of the crypto market. JPMorgan recognized the share of stablecoins in the total cryptocurrency market value as
