The long term market cap is interesting to watch. Defi, Stablecoins, Staking and Farming, and even Altcoins are relatively new, yet the bottom line showed here has acted as support, and sometimes resistance, so many times over this industries life cycle (at least as far back as this data shows). Even if this line breaks, and you can reference that post 2018, we are in the most raging bull asset class of our lifetimes. When in doubt. Zoom out
Comment:
The 2020 Run came from the grips of a bear market, and has only brought us back to ranging between 40-60k, resting on this long term trend line. Compared to the 2017 run up, we haven't seen anything yet.