There is a lot of uncertainty in the Ethereum market. Sure, there have been some hacks that left investors irate, but it’s not the sole reason for why ETH is crashing.
Ethereum price has fallen dramatically in the last few days. Ethereum coins have been getting sold off on the market which is going to bring down the price. This is only a short-term time (hopefully).
There is more contagion effects to occur yet due to the Genesis, DCG (Digital Coin Group), GBTC and the fallout of the FTX bankruptcy.
NFT volume is down bad. Bond spread between 10y and 2y is high. Curious to see what the FOMC says in the coming weeks.