JPMorgan: Stablecoin capitalization indicates future growth of the cryptocurrency market – Bits Media

According to analysts at the American investment bank JPMorgan Chase, The increase in the share of stablecoins in the cryptocurrency market hints at the coming growth of digital assets.

Stablecoin capitalization reached a historical high in mid-June. In a letter investors, head of analytics at JPMorgan Nikolaos Panigirtzoglou (Nikolaos Panigirtzoglou) stressed, that the share of stablecoins in the cryptocurrency market has grown to 14%.

“The share of stablecoins in the overall cryptocurrency market looks extremely high, which indicates that regular cryptocurrencies are oversold and the possibility of significant growth from current values", - Panigirtzoglou emphasized.

At the time of publication, the share of stable cryptocurrencies in the market has increased to 17%, and their capitalization is $155 billion.

Note, what a team of JPMorgan analysts said back in February, what should bitcoin cost? $38 000. Now the first cryptocurrency is trading at $21 000.