Wall Street Giant JP Morganin a report released today cryptocurrency He said that the demand of retail investors in the market has increased against the sector.
According to the bank, improved investor sentiment and Ethereum (ETH) Rising demand before the merger led to a market rebound.
The famous bank also noted that the intense phase of de-leverage among investors seems to be over.
“The extreme recession phase seen in May and June, the most intense since 2018, appears to be over.”
JP Morgan said that investors’ sentiment towards the crypto market will turn positive and that investors are scheduled to take place in September. Ethereum (ETH) He said that the rising expectations for the merger led to the recovery of the market.
Pointing out that the demand from retail investors has increased, JP Morgan said, “Smaller wallets have seen an increase in their Ethereum and Bitcoin balances at their expense since the end of June.” said.
Like Three Arrows Capital, Terra and Celsius crypto- Referring to the collapses experienced by major and large companies in the market, the bank pointed to the recovery of staked ether (stETH) as an example of how the debt reduction event ended.