JPMorgan Chase: Despite the increase in total market value, the growth of the crypto ecosystem slowed down in January

JPMorgan Chase pointed out that last month the total market value of cryptocurrencies increased by 8%, reaching approximately $3.4 trillion. Despite the increase in total market value, growth in the crypto ecosystem slowed down in January, with market value increases concentrated on Bitcoin (BTC), Solana (SOL) and XRP, while a decline in average daily volume (ADV) was common throughout the ecosystem. JPMorgan stated in its report that decentralized finance (DeFi) and non-fungible tokens (NFTs) performed poorly monthly, with several indicators deteriorating significantly.