Even though everyone is talking about bearish things, most of them haven’t left the crypto market. They just want the bottom to come.
Bitcoin’s market cap fell by 70 percent from its peak, but stablecoin’s fell by only 11 percent.
But it would be wrong to compare the capitalization of volatile assets like Bitcoin over different time periods to figure out how many investors left the space. Instead, the analyst suggested that the market value of stablecoins be looked at.
In the case of stables, the capitalization dropped by “only” 11 percent, which shows that the cryptocurrency didn’t take as much of a hit as most bearish analysts and economists thought it would.