In the past five days, the cryptocurrency market has lost about $400 billion in total market cap, dropping below its November 2021 peak. Many cryptos have experienced losses, with only a few coins going in the opposite direction and posting gains. Some of the coins hit the hardest are tied to protocols with high levels of economic activity, such as AAVE, LDO, SOL, and ETH. However, the gains of a few coins like BERA, SKY, and TIA may indicate a shift in the market's focus and a desire for a fresh ecosystem narrative. The strict regulation of stablecoins in the US could be benefiting SKY as decentralized offerings become more popular.



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