Ethereum buying and selling quantity surges 86.4% over two weeks: JPMorgan

starcrypto — Retail buyers have been returning to the crypto markets after a pause in April, driving common cryptocurrencies like and Ether to achieve multi-week highs, based on JPMorgan strategists.

JPMorgan’s report additionally highlighted that Bitcoin’s 14-day common day by day buying and selling volumes stand at $28.9 billion, in comparison with ‘s $20.7 billion. Over the previous two weeks, Bitcoin’s common day by day buying and selling volumes elevated by 12.0%, whereas Ethereum’s buying and selling volumes surged by 86.4%. ‘s buying and selling volumes rose by 39.2%. 

Furthermore, buying and selling quantity progress for main cryptocurrencies, excluding Binance USD, has been robust over the previous six months and 12 months. A JPMorgan analyst famous, “The substantial enhance in buying and selling volumes for Bitcoin and Ethereum highlights the rising investor curiosity and market exercise in these main cryptocurrencies.”

On Could 30, Franklin Templeton president and CEO Jenny Johnson spoke on the Consensus 2024 convention in Austin, highlighting the advantages of blockchain ledger know-how. Johnson emphasised its potential to offer a single “supply of fact” for reconciling knowledge between methods, which might assist scale back prices and administrative workload. Johnson famous, “Blockchain know-how can streamline our processes and considerably scale back administrative burdens.” The corporate is actively concerned within the blockchain house, operating 30 validator nodes on 12 totally different blockchains.

Grayscale Investments introduced on Could 20 that CEO Michael Sonnenshein would step down after a decade with the crypto asset supervisor. Peter Mintzberg, presently the worldwide head of technique for asset and wealth administration at Goldman Sachs, will assume the function of CEO on August 15. Till then, CFO Edward McGee will function the principal government officer. Sonnenshein mirrored on his tenure, saying, “Main Grayscale has been a outstanding journey, and I’m assured in Peter’s imaginative and prescient for the long run.”

On Could 20, New York Legal professional Common Letitia James introduced a $2 billion settlement with bankrupt cryptocurrency lender Genesis to repay defrauded buyers. Genesis, which neither admits nor denies the allegations, is barred from working in New York. The settlement establishes a fund for victims, together with 29,000 New York residents who invested over $1.1 billion by the Gemini Earn product. “This settlement ensures that victims are compensated and holds Genesis accountable,” James acknowledged.

Institutional cryptocurrency lending agency Maple Finance unveiled a brand new loans platform known as “Syrup” on Could 28, together with a rewards token of the identical identify. Syrup guarantees customers yields of 15% by depositing stablecoins into the platform. A Maple Finance consultant highlighted, “Syrup is designed to supply engaging yields whereas sustaining safety and reliability.”

The worldwide crypto market has seen a 12% enhance since Could 15, 2024, with the market cap standing at $2.53 trillion as of June 1, 2024. The highest 5 cryptocurrencies by market cap are Bitcoin, Ether, Tether, , and , JPMorgan report concludes.