In January, the growth of the crypto ecosystem slowed down, with total trading volume decreasing by 24%, according to a research report by JPMorgan. However, the activity still remains double the pre-election levels in November, and the total market cap increased by 8% to around $3.4 trillion. The market cap growth was mostly driven by bitcoin, solana, and XRP, while average daily volume saw declines across the ecosystem. Decentralized finance (DeFi) and non-fungible tokens (NFTs) experienced a larger deterioration in various metrics. On the regulatory front, the new Trump administration established a crypto taskforce and rescinded a controversial accounting rule called SAB 121.



Other News from Today