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Nakikita ng JPMorgan ang Wave ng Crypto Deleveraging Mula sa Mga Kaabalahan ng FTX
Sinabi ng mga strategist ng JPMorgan na ang halaga ng produksyon ng bitcoin ay maaaring maging tagapagpahiwatig ng ibaba ng merkado.
Ang Crypto deleveraging ay pinasimulan ng maliwanag na pagbagsak ng Crypto exchange FTX at ang kapatid nitong kumpanya Pananaliksik sa Alameda ay magiging "mas problema" kaysa sa mga nauna dahil may kakulangan ng malalakas na entity at balance sheet na maaaring magligtas, sinabi ng mga strategist ng JPMorgan na pinamumunuan ni Nikolaos Panigirtzoglou sa isang tala sa mga kliyente noong Miyerkules.
“Dahil sa laki at pagkakaugnay ng parehong FTX at Alameda Research sa iba pang mga entity ng Crypto ecosystem kabilang ang mga DeFi platform, LOOKS malamang na ang isang bagong cascade ng mga margin call, deleveraging at Crypto kumpanya/platform ay nagsisimula na katulad ng nakita natin noong nakaraang Mayo/Hunyo kasunod ng pagbagsak ng Terra, "sabi ng mga strategist ng JPMorgan sa kanilang tala sa mga kliyente. DeFi, o desentralisadong Finance, ay isang payong termino para sa iba't ibang mga pinansiyal na aplikasyon na isinasagawa sa mga blockchain.
Ipagpatuloy Ang Kwento Sa Baba
Mis geen enkel verhaal.Abonneer je vandaag nog op de Crypto Daybook Americas Nieuwsbrief. Bekijk Alle Nieuwsbrieven
Sinabi ng JPMorgan na ang mga mamumuhunan ay maaaring maghanap ng mababang presyo sa sa pamamagitan ng gastos sa produksyon nito, na minsan ay nagsisilbing floor. Ang kasalukuyang gastos sa produksyon ay humigit-kumulang $15,000, kahit na malamang na muling bisitahin ang $13,000 na naabot nito sa mga nakaraang buwan, na nagpapahiwatig ng pagbaba ng humigit-kumulang 25% mula rito, ang sabi ng bangko.
Advertentie
Sa optimistic front, sinabi ni JPMorgan na ang hit sa kabuuang market cap ng crypto ay maaaring mas mababa kaysa pagkatapos ng Terra habang nagaganap ang deleveraging.
Read More: Sam Bankman-Fried Sabi ni Alameda Winding Down, Nangako sa FTX US Customers 'Fine'
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
Ce qu'il:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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