cryptocurrencies notable for its reports on US investment bank Morgan Stanley published another recent report.
Noting the decline in the price of cryptocurrencies, bank analysts said that despite the decline, new cryptocurrencies are still being introduced to the market.
Analysts said in their report that cryptocurrencies are traded like risky assets due to incentives from governments and central banks. of the FED He stated that due to the tightening in monetary policy, liquidity-based cryptocurrency trading has reversed.
Cryptocurrency market Pointing out that its value has increased, Morgan Stanley analysts emphasized that the market has increased 10 times since the beginning of 2020.
The giant bank pointed out that the production of digital assets is still high, despite the recent drop in cryptocurrency prices, with more than 100 in the past week. of cryptocurrency Said it was created.
The majority of these cryptocurrencies are decentralized (DeFi) was created on exchanges.
Finally, in the analysts report Bitcoin (BTC) He stated that it has long been highly correlated with stocks, but has recently had almost zero correlation with gold.
Morgan Stanley, which recently published another report on cryptocurrencies, bitcoin Noting that cryptocurrencies and cryptocurrencies are being added as a payment method by many businesses, he said that the daily use of cryptocurrencies has started to increase.