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 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 faced a net outflow of $3.4 billion, while Ethereum exchange-traded products (ETPs) recorded their worst decline ever. This situation indicates that investor confidence in the markets has been shaken.

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