Iconic banks have recorded an increase in revenue as investors embrace traditional currency due to the bearish nature of the crypto market. The rate of traditional finance usage has increased. This can be attributed to the risky crypto assets that have led to its crash.
UBS Group AG, Deutsche Bank, and JPMorgan (NYSE: JPM) are the main beneficiaries and have increased their fixed-income market businesses. Analysts have revealed that investors are going for traditional finance due to the higher volatility of the currency.
The volatility of Bitcoin and other cryptocurrencies has been dropping for the past few months. Despite the price fluctuations experienced in the crypto market, the US Dollar has stood the waves. This has made traders turn to Bitcoin to have profit arbitrage.
