JPMorgan says ether and altcoins could keep underperforming bitcoin without stronger activity
The Block
JPMorgan analysts warn that ether and altcoins may continue to underperform bitcoin unless network activity and ecosystem demand improve significantly.Summary
JPMorgan analysts, led by Nikolaos Panigirtzoglou, report that ether and altcoins continue to lag behind bitcoin following recent market volatility. Institutional data, including spot ETF flows and CME futures positioning, shows investors are favoring bitcoin over ether. The firm remains skeptical that upcoming Ethereum upgrades will reverse this trend, noting that past improvements have lowered transaction fees at the expense of the token burn mechanism, potentially weakening price support. Furthermore, broader altcoin performance is hindered by diminished liquidity, security concerns, and stagnant DeFi growth.
(Source：The Block)