'A decrease in stablecoin market share suggests capital has completely exited the crypto ecosystem,' the Coingecko report notes.
Q2 2022 Cryptocurrency Report Highlights Terra's Collapse and Capital Exiting the Crypto Ecosystem
The crypto firm’s report explains that while spot market trade volumes have remained steady at $100 billion daily, “the top 30 coins have lost over half their market cap since the previous quarter.” Much of the crypto blunder started from a domino effect caused by the Terra UST and LUNA collapse. The slight decrease in stablecoin market share suggests that a certain amount of capital has completely exited the crypto ecosystem, in contrast to last quarter when investors likely de-risked into stables amidst market uncertainty.The 46-page report further explains how Lido’s bonded assets were affected by the Terra blowout and the demise of the crypto hedge fund Three Arrows Capital .
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