RE:RE:RE:RE:bnxaCorrect,contagion in Crypto world is spreading.
This is all fallout from the FTX debacle.
BTC/ETHE down 20-30% in a week.
Block FI is limiting withdrawals.
The question for all Crpto stocks/cryptos ,is this the bottom of the bear market or not ,if not how long will it continue.Generally in past Crypto bear markets btc/ethe correct down 85% .Ethe at its peak was 4600 currently around 1200 so about a 75% correction ,BTC down from 68k to 16 k so about 75-80% correction.so one would think we are relatively close to a bottom.
40% discount in grayscale btc trust ,historic high.
The ability of any Crypto company to predict transactional volumes and profit/losses highly limited in this unstable environment,cash reserves and amount of debt are critical.Historically in a bear market like this a bottom is reached and then several months go by of low trading volumes until the market slowly heals itself prior to the next bull run.
Buying the grayscale btc trust right now means you are getting btc at around 10k,since the trust is backed by btc it should be relatively safe(not investment advice)
For Coin ,bnxa et al right now ,it's a question of survivability.