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Search results for Nikolaos Panigirtzoglou

Crypto

U.S. regulated perpetual futures spread to pressure decentralised exchanges

JPMorgan analysts said Hyperliquid could face pressure on its market share as regulated crypto perpetual futures platforms expand in the United States and competition intensifies in prediction markets. They cited concerns tied to decentralised platforms, including unlicensed derivatives trading and weak KYC/AML controls, as well as market manipulation, attacks, oracle errors and limited consumer protections. They also said new regulated U.S. products could shift liquidity from offshore and decentralised venues to domestic regulated exchanges.

Crypto

JPMorgan says Strategy selling is not a threat, private chains are the issue

JPMorgan sees the spread of permissioned blockchains as a bigger structural risk to bitcoin than Strategy’s recent bitcoin sale, as tokenisation, payments and clearing could move off public networks. It said institutions prefer permissioned networks for privacy, compliance controls, governance and legal clarity. JPMorgan also cited BIS warnings, tokenised deposits, SWIFT projects and CBDC initiatives as reinforcing regulated paths, and said public chains may be left mainly with distribution and interoperability roles.

Crypto

JPMorgan says bitcoin mining economics worsen as price stays below production cost for five straight months

Bitcoin mining economics have worsened so far this year, with bitcoin prices staying below estimated production costs for five consecutive months, increasing pressure on miners, a report cited by The Block said. JPMorgan analysts led by Nikolaos Panigirtzoglou said bitcoin hashrate and mining difficulty are reacting more sensitively to price swings, with more miners operating near break-even. JPMorgan estimates production costs at about $78,000 versus a bitcoin price of around $62,500.