November was a significant month for the crypto market, according to a research report by JPMorgan. The reelection of President-elect Donald Trump triggered a rally across the crypto ecosystem, resulting in a 45% increase in market cap and a total market cap of $3.3 trillion. Trading volumes more than doubled, with some digital assets experiencing even higher growth. Non-fungible token volumes, however, were weaker. The bank also noted that U.S. spot exchange-traded products (ETPs) saw record net sales of $7.6 billion. Bitcoin ETPs increased in size and trading volume, contributing to the concentration of the ecosystem around bitcoin. Lastly, mining economics improved as the rally in bitcoin surpassed hashrate growth.



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