Cryptocurrency trading volumes saw a decrease in November.

JPMorgan Report: Challenges in the Crypto Market

In November, cryptocurrency trading volumes decreased by approximately 20% due to market volatility and selling pressure. According to JPMorgan's report, this decline was observed in spot, stablecoin, decentralized finance (DeFi), and NFT (non-fungible token) transactions.

Notably, Bitcoin spot exchange-traded funds (ETFs) in the United States experienced a net outflow of $3.4 billion, while Ethereum exchange-traded products (ETPs) recorded their worst decline in history. This situation indicates a loss of confidence among investors in the markets.

The total cryptocurrency market capitalization fell by 17% last month, dropping to $3 trillion. Bitcoin experienced a significant loss, declining by 17%, while Ethereum lost 22% of its value.