{"id":17424,"date":"2024-04-07T17:12:31","date_gmt":"2024-04-07T17:12:31","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=17424"},"modified":"2024-04-07T14:01:04","modified_gmt":"2024-04-07T14:01:04","slug":"jpmorgan-crypto-volumes-doubled","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/jpmorgan-crypto-volumes-doubled\/","title":{"rendered":"According to JPMorgan, Crypto Volumes Doubled in March"},"content":{"rendered":"<p>March saw significant <strong>increases<\/strong> for cryptocurrencies, nearly <strong>doubling<\/strong> trade volumes to an all-time high as the top coins reached previously unexplored heights and altered the dynamics of the crypto market.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/jpmorgan-crypto-volumes-doubled\/#Crypto_Markets_Performance_in_March\" title=\"Crypto Market&#8217;s Performance in March\">Crypto Market&#8217;s Performance in March<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/jpmorgan-crypto-volumes-doubled\/#About_Bitcoin_and_Bitcoin_Mining\" title=\"About Bitcoin and Bitcoin Mining\">About Bitcoin and Bitcoin Mining<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Crypto_Markets_Performance_in_March\"><\/span>Crypto Market&#8217;s Performance in March<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a research report, <strong>JPMorgan (JPM)<\/strong> stated that the capitalization of the cryptocurrency market increased by 19% in March, indicating that growth is still occurring, but more slowly than in <a href=\"https:\/\/www.grayscale.com\/research\/market-commentary\/february-2024-crypto-leaps-ahead\">February<\/a>. Although the market capitalization growth of altcoins exceeded that of established assets such as Bitcoin and <a href=\"https:\/\/coinengineer.net\/blog\/what-will-happen-to-ethereum-price-analysis\/\">Ethereum<\/a>, the ecosystem as a whole experienced double-digit growth.<\/p>\n<p>According to the research, &#8220;<strong>the ecosystem rallied +19% in March<\/strong>, and the total crypto market capitalization remained above the $2.0tr threshold throughout the month and even eclipsed $2.6tr mid-March before settling towards month-end at ~2.5tr.&#8221;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"About_Bitcoin_and_Bitcoin_Mining\"><\/span>About Bitcoin and Bitcoin Mining<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Although Bitcoin reached a new <strong>all-time high<\/strong> of nearly $73,000 in the middle of the month, net flows into spot Bitcoin ETFs remained net positive in March but fell to $4.6 billion from February&#8217;s $6.1 billion. ETF inflows rose as a result of the initial spike in price of Bitcoin; but after peaking, the price of Bitcoin started to move sideways, seemingly reversing the trend.<\/p>\n<p>According to JPMorgan, the profitability of <a href=\"https:\/\/coinengineer.net\/blog\/bitcoin-mining-shares-fell-more-than-27\/\"><strong>bitcoin mining<\/strong><\/a> increased by an estimated 33% in March. This was caused by an average monthly gain in Bitcoin prices of 37%, which exceeded the growth in network hashrate. But because of the impending halving, which will lower the block reward from 6.25 to 3.125 Bitcoin, profitability is predicted to drop in April.<\/p>\n<p><em>You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>,<\/a>\u00a0<a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates instantly.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>March saw significant increases for cryptocurrencies, nearly doubling trade volumes to an all-time high as the top coins reached previously unexplored heights and altered the dynamics of the crypto market. Crypto Market&#8217;s Performance in March In a research report, JPMorgan (JPM) stated that the capitalization of the cryptocurrency market increased by 19% in March, indicating<\/p>\n","protected":false},"author":6,"featured_media":17425,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,7,2],"tags":[4883,307,2087],"class_list":["post-17424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-market-analysis","category-news","tag-investincrypto","tag-bitcoin-mining","tag-jpmorgan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>According to JPMorgan, Crypto Volumes Doubled in March - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Get the latest insights on the crypto market: explore the significant increases, market dynamics, and capitalization growth in March.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/jpmorgan-crypto-volumes-doubled\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"According to JPMorgan, Crypto Volumes Doubled in March - 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