Crypto trading volumes saw a decline in November.

JPMorgan Report: Challenges in the Crypto Market

In November, cryptocurrency trading volumes declined by approximately %20 due to market fluctuations 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 to date. This situation indicates a loss of confidence among investors in the markets.

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