Cryptocurrencies have seen better days would be the best way of describing how the market is right now. Bitcoin is still struggling to break the $30k mark and other altcoins are doing worse than ever.
With USDT and LUNA losing most of their value and smaller coins losing up to 60% of their value. The bear market has been going on in full swing and the cryptocurrency is looking down.
On the other hand, the stock market is looking lively. The S&P 500 is rising from its oversold levels and remains at an all-time high. With the stock market also recovering from the Russia-Ukraine war crypto sees slow gains after its fall from grace.
Altcoins like the ETH and SOL have also seen lowered prices, especially after the USDT and LUNA crashes. These two currencies have lost more than 90% of their value and are recovering slowly. With the top 5 cryptos in the red, as of now, stocks have performed better than them.
Crypto is being touted as the future of finance and will be a new way of doing things. Its innovative and transparent nature has appealed to the people and more and more people are adopting it.
Many countries have welcomed crypto with their arms wide open and the countries that were against it are now slowly warming up to them. The DeFi nature of the blockchain gives people and businesses a new space to capitalize on. This way not only do people get another business opportunity but also a transparent system with minimum regulations.
