I recently reviewed a yet undisclosed study where the public interest was measured against the price of major cryptocurrencies, clearly showing that the more people show interest in crypto, the higher the price is pushed. I would call this a “hype” pricing vs. other pricing models we see in the traditional assets.
I think that currently, crypto market lives through the final stages of this transformation where market participants are mainly focusing on value and underlying fundamentals and not on the hype. This is clearly indicated by lower volatility both long- and short- term.
It is good news for those who seek a more stable, more transparent and more value-driven investors. It is also good news for the market overall as higher stability brings more cautious and more traditional investors with larger capital.