Crypto coins exhibited exponential growth through the years, raising attention to the crypto space. There was no correlation between crypto performance and the conventional stocks of different commodities. However, all that seems to be fading into thin air from the recent activities and trends of digital assets. The chief economist of Coinbase, a crypto exchange, has reported a change in the risk profile of crypto assets. According to the analysis from Cesare Fracassi, crypto performance is similar to those of stock commodities. This means that prices of crypto assets now share the same trend as stocks like pharmaceutical, oil and gas, tech, etc. Suggested Reading | Sandbox (SAND) Having A Blast With 12% Spike In 24 Hours Fracassi gave his observation on July 6 through a blog post. He stressed the 2020 global pandemic marked the increase of the correlation between the prices of digital assets and stock. In his explanation, Fracassi cited that Bitcoin returns gave more significant proof for the similarities in the trend. According to his argument, the average BTC returns over the past decade have shown no correlation to stock market performance. However, the trend twisted from the onset of the COVID pandemic. In Fracassi’s analysis, the current market movements are taking along crypto assets. Hence, cryptocurrency price trends and risk profiles are no longer separate from the flow within the overall financial system. Crypt...
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