Cryptocurrency Market Cap Rises Despite Slowed Growth

According to BlockBeats, on February 11, JPMorgan reported that the total market capitalization of cryptocurrencies increased by 8% last month, reaching approximately $3.4 trillion. Despite this rise, the growth of the crypto ecosystem slowed in January, with market cap gains primarily concentrated in Bitcoin (BTC), Solana (SOL), and XRP. However, a decline in average daily trading volume was observed across the ecosystem. JPMorgan's report highlighted that decentralized finance (DeFi) and non-fungible tokens (NFTs) experienced poorer monthly performance, with several indicators showing significant deterioration.