Insight

Blockchain tech, crypto assets set to become more mainstream

The market capitalisation of all cryptos fell 72 per cent to a low of US$836 billion in June 2022. PHOTO: REUTERS
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SINGAPORE - The market has not been kind to cryptocurrencies, which have in the past year suffered trillions of dollars in losses and a string of major scams that has damaged confidence in the emerging asset class.

From a peak in November 2021 of US$2.96 trillion (S$4.2 trillion), the market capitalisation of all cryptos fell 72 per cent to a low of US$836 billion in June 2022, according to crypto aggregator CoinMarket Cap.

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