{"id":465693,"date":"2022-06-20T16:30:06","date_gmt":"2022-06-20T13:30:06","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/record-stablecoin-market-share-points-to-crypto-upside-jpmorgan\/"},"modified":"2022-06-20T16:30:06","modified_gmt":"2022-06-20T13:30:06","slug":"record-stablecoin-market-share-points-to-crypto-upside-jpmorgan","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/record-stablecoin-market-share-points-to-crypto-upside-jpmorgan\/","title":{"rendered":"# Record stablecoin market share points to crypto upside: JPMorgan"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35fc9577593\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35fc9577593\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/record-stablecoin-market-share-points-to-crypto-upside-jpmorgan\/#%E2%80%9D_Record_stablecoin_market_share_points_to_crypto_upside_JPMorgan_%E2%80%9C\" >&#8221; Record stablecoin market share points to crypto upside: JPMorgan &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Record_stablecoin_market_share_points_to_crypto_upside_JPMorgan_%E2%80%9C\"><\/span>&#8221; Record stablecoin market share points to crypto upside: JPMorgan &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>The rapid surge in share of stablecoins like Tether (USDT) in the cryptocurrency market may point to an upcoming crypto upside, according to analysts at the American investment bank JPMorgan Chase.<\/p>\n<p>The percentage of stablecoins in the total crypto market value has been on the rise, reaching new historical highs in mid-June, JPMorgan strategists believe. Led by JPMorgan crypto market analyst Nikolaos Panigirtzoglou, the analysts provided their industry insights in the bank&#8217;s new investor note shared with Cointelegraph.<\/p>\n<p>Released on June 15, the investor note reads that the share of all stablecoins rose to above 14%, or a \u201cnew historical high which brings it to well above its trend since 2020.\u201d<\/p>\n<p>\u201cThe share of stablecoins in total crypto market cap looks excessively high pointing to oversold conditions and significant upside for crypto markets from here,\u201d the strategists said.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/5a4d3c1d-72f5-4c9e-8595-d5d28bf22185.png\"><figcaption style=\"text-align: center;\"><em>Share of stablecoins in the total market cap. Source: JPMorgan<\/em><\/figcaption><\/figure>\n<p>According to the analysts, the lower share of stablecoins in the crypto market is associated with a limited crypto upside. In late April 2022, the strategists <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.businessinsider.in\/cryptocurrency\/news\/further-upside-in-crypto-is-limited-as-stablecoin-ownership-declines-jpmorgan-says\/articleshow\/90578454.cms\">forecasted<\/a> a short-term drop of crypto prices as the share of stablecoins relative to the total crypto market fell from 10% to 7%.<\/p>\n<p>At the time of writing, the percentage of stablecoins in the total crypto market has surged even higher, amounting to 17%. According to the crypto data provider CoinGecko, the value of all stablecoins <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/categories\/stablecoins\">equals<\/a> to $155 billion, while the total market capitalization <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/global_charts\">stands<\/a> at $946 billion.<\/p>\n<p>The share of stablecoins has been growing over the past few weeks despite the total supply of all stablecoins massively dropping during the second quarter of 2022, seeing one of its sharpest declines in history. The stablecoin industry has been associated with a lot of FUD due to failure of algorithmic stablecoins like Terra. Major cash-backed stablecoin issuers like Tether have been also reassuring their customers that they have not been affected by issues like the Celsius&#8217; crisis.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Tether&#8217;s USDT market cap dips below $70B for an 8-month low<\/em><\/strong><\/p>\n<p>The total market capitalization has been also tanking this year, falling from above $2 trillion in January to below $1 trillion in mid-June.<\/p>\n<p>JPMorgan&#8217;s crypto strategists are known for taking a positive stance on the price of Bitcoin (BTC) in the long run. As previously reported, the analysts reiterated in February 2022 that their\u00a0 theoretical long-term target for Bitcoin stood at $150,000.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/record-stablecoin-market-share-points-to-crypto-upside-jpmorgan\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Record stablecoin market share points to crypto upside: JPMorgan &#8220; The rapid surge in share of stablecoins like Tether (USDT) in the cryptocurrency market may point to an upcoming crypto upside, according to analysts at the American investment bank JPMorgan Chase. The percentage of stablecoins in the total crypto market value has been on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":465694,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvMTRlODc5OTctYjZlZC00Njc4LWI0NTktZGQyYzI4NjU2MzIyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,79806,74862,74937,75493,117,70792],"class_list":["post-465693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-analysis","tag-bitcoin","tag-bitcoin-price","tag-stablecoin","tag-business","tag-jpmorgan-chase"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/465693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=465693"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/465693\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/465694"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=465693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=465693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=465693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}