Cryptocurrency trading volumes saw a decline 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 a report by JPMorgan, this decline was observed in spot, stablecoin, decentralized finance (DeFi), and NFT (non-fungible token) transactions.

Particularly in the United States, Bitcoin spot exchange-traded funds (ETFs) experienced a net outflow of $3.4 billion, while Ethereum exchange-traded products (ETPs) recorded their worst decline in history. This situation indicates that investor confidence in the markets has been shaken.

The total cryptocurrency market value decreased by 17% last month, falling to $3 trillion. Bitcoin saw a significant loss, declining by 17%, while Ethereum lost 22% of its value.