Ethereum
Ethereum Trading Volume Increases 86.4% Over Two Weeks: JPMorgan By Investing.com
Investing.com — Retail investors returned to crypto markets after a hiatus in April, pushing popular cryptocurrencies like Ether to multi-week highs, according to JPMorgan strategists.
The JPMorgan report also highlighted that Bitcoin’s 14-day average daily trading volumes stand at $28.9 billion, compared to Bitcoin’s $20.7 billion. Over the past two weeks, Bitcoin’s average daily trading volumes increased by 12.0%, while Ethereum’s trading volumes jumped by 86.4%. Trading volumes increased by 39.2%.
Additionally, trading volume growth for major cryptocurrencies, excluding Binance USD, has been strong over the past six months and year. A JPMorgan analyst noted: “The substantial increase in trading volumes for Bitcoin and Ethereum highlights growing investor interest and market activity for these leading cryptocurrencies. »
On May 30, Jenny Johnson, president and CEO of Franklin Templeton, spoke at the Consensus 2024 conference in Austin, highlighting the benefits of blockchain ledger technology. Johnson highlighted its potential to provide a single “source of truth” to reconcile data between systems, which could help reduce costs and administrative workload. Johnson noted: “Blockchain technology can streamline our processes and significantly reduce administrative burdens. » The company is actively involved in the blockchain space, running 30 validator nodes on 12 different blockchains.
Grayscale Investments announced on May 20 that CEO Michael Sonnenshein would step down after a decade at the crypto asset manager. Peter Mintzberg, currently global head of asset and wealth management strategy at Goldman Sachs, will assume the role of CEO on August 15. Until then, CFO Edward McGee will serve as CEO. Sonnenshein reflected on his tenure, saying, “Leading Grayscale has been a remarkable journey, and I have confidence in Peter’s vision for the future. »
On May 20, New York Attorney General Letitia James announced a $2 billion settlement with bankrupt cryptocurrency lender Genesis to reimburse defrauded investors. Genesis, which neither admits nor denies these allegations, is prohibited from operating in New York. The settlement creates a fund for victims, including 29,000 New York residents who invested more than $1.1 billion through the Gemini Earn product. “This settlement ensures that victims will be compensated and will hold Genesis accountable,” James said.
Institutional cryptocurrency lending company Maple Finance on May 28 unveiled a new lending platform called “Syrup,” along with a reward token of the same name. Syrup promises users a 15% return by depositing stablecoins on the platform. A Maple Finance representative highlighted: “The syrup is designed to provide attractive returns while maintaining safety and reliability. »
The global crypto market has seen a 12% increase since May 15, 2024, with a market capitalization of $2.53 trillion as of June 1, 2024. The top five cryptocurrencies by market capitalization are Bitcoin, Ether, Tether and , JPMorgan report. concludes.