JP Morgan sees the first signs of the end of cryptocurrency winter

While BTC price it was less volatile than in previous weeks, it moved in a downtrend starting the week around $ 21 trading mid-week to its current level around $ 000.

In the case of Bitcoin, a notable phenomenon emerges. As the price drops, so-called bitcoin "whales", or owners of large accumulations of cryptocurrencies, are making moves to buy more tokens. The largest non-exchangeable bitcoin wallet, the name of which remains unknown, has acquired thousands of consecutive tokens as the price declined, thereby increasing its value to over $ 2,53 billion.

Ethereum experienced a similar slippage the previous week, starting at around $ 1200, before cutting to around $ 1050 on Thursday. It has remained stable ever since.

The weakness in ETH prices comes as we move towards The Merge. The Gray Glacier update was successfully rolled out to Ethereum Mainnet last week, bringing The Merge a step closer - where the network will move to the model proof-of-stakewhich can have a big impact on the economy of the platform.

EU adopts MiCa (Markets in Crypto-Assets) rules

The European Union has made progress with a new set of rules governing cryptocurrencies and related markets. This is a big step in cryptocurrency regulation as few other jurisdictions apply such comprehensive rules to the sector.

Reserve requirements for stablecoins have been strengthened, new rules on transaction reporting are in place, and the European Securities and Markets Authority has new powers to enforce actions against cryptocurrency providers that fail to protect investors or abide by market rules, threatening stability.

Time will tell what the economic impact will be on the cryptocurrency market. The EU is a vast segment, but not the largest. Many innovations come from Europe, but in reality, cryptocurrencies are in great need of greater oversight to establish the key foundations for players and stabilize markets, without stifling innovation. The EU is a leader, but with the draft Financial Services and Markets Act to be adopted in the UK, there will be a reshuffle.

Cardano's update reaches a critical point

Blockchain smart contract Cardano has reached a landmark step towards a radical protocol change (hard fork) for the platform. Cardano forms one of the few major competitors blockchainsthat are currently competing for interest in the blockchain and crypto projects underpinning them. In this situation, the key to the competitiveness of the platform is the continuation of development.

JP Morgan sees the end of cryptocurrency winter

Leading global investment bank JP Morgan, which has continued its path towards cryptocurrencies even despite a tough quarter for investors, says noticeable healthy funding and a contagion backstops are signals that the cryptocurrency winter may be over soon.

In its confirmation that funding is still flowing towards cryptocurrency projects, the bank touches on a very important issue. What distinguishes today's conditions from previous pullbacks is that retail investors are no longer alone in experiencing the adversities.

There are also large financial institutions on the market now. The heart of JPMorgan's message is clear - while some money is drifting out of the sector, others are still buying. It is therefore important for investors to carefully consider investment cases and look at those that present the best long-term opportunities.