This year, cryptocurrencies had a wild ride as Bitcoin and Ethereum fell over 70% since their all-time highs in November 2022. Earlier, experts said that the crypto market’s correlation with the stock market had worsened the state of the digital asset domain. The markets took a sharp turn in June, where major stablecoins fell too, owing to the unexpected volatility of the market. Besides, a significant chunk of the total crypto market value fell due to the recession, heightening interest rates, and the growing involvement of crypto regulators and legislators.
