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Benzinga
Benzinga
Business
Murtuza Merchant

Coinbase Says Two-Thirds of Crypto Price Decline Due To Macro Factors

Crypto Coinbase Global Inc Nasdaq Oil Bitcoin

The correlation between stock and crypto-asset prices has risen significantly since 2020 and the digital assets today share similar risk profiles to oil commodity prices and technology stocks, according to Cesare Fracassi, Chief Economist at Coinbase Global Inc (NASDAQ:COIN).

The market capitalization of cryptos has seen a decline by over two-thirds, from $2.9 trillion at its peak in November last year, to less than $1 trillion currently. Since 2010, the total crypto market capitalization experienced a quarterly decline of 20% or more nine times.

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