JP Morgan on crypto last month, “monumental”. highlights from the note:
- Donald Trump’s reelection triggered a historic rally across crypto markets
- November’s market cap growth of 45% was the crypto market’s best monthly return.
- U.S. spot crypto ETFs posted another record month in November
- U.S. spot exchange-traded products (ETPs) the bank tracks saw record monthly net sales (circa US$7.6 bn)
- Mining economics improved in November – rally in BTC outpaced hash rate growth
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Bitcoin’s hash rate refers to the total computational power used by miners to validate transactions and secure the Bitcoin network. It measures how many hash calculations per second the network performs.
This article was written by Eamonn Sheridan at www.forexlive.com.
