JP Morgan on crypto last month, "monumental". highlights from the note:
- Donald Trump's reelection triggered a historic rally across crypto markets
- November's market cap growth of 45% was the crypto market's best monthly return.
- U.S. spot crypto ETFs posted another record month in November
- U.S. spot exchange-traded products (ETPs) the bank tracks saw record monthly net sales (circa US$7.6 bn)
- Mining economics improved in November - rally in BTC outpaced hash rate growth
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Bitcoin's hash rate refers to the total computational power used by miners to validate transactions and secure the Bitcoin network. It measures how many hash calculations per second the network performs.
