In a recent report released by JPMorgan, the current state of the cryptocurrency market was thoroughly analyzed. The report revealed that by the end of last month, the total value of global cryptocurrencies had dropped to $2.02 trillion, representing a 24% decrease from its peak in March. This report unveiled the challenges currently faced by the crypto industry, specifically the lack of short-term catalysts that could drive further growth. The report also stated that to stimulate market vigor, the industry needs to wait for new development catalysts and enhance retail investor participation. The analysis indicated that without significant catalysts, the prices of crypto tokens and assets may be more sensitive to macroeconomic factors.