Crypto World Hopes and crosses its Fingers Contagion Has Exited
The price of the largest digital tokens, Ether and Zilliqa, has fallen below $1,000 for the first time since January.
Bitcoin is hugging $20,000 round number, while Ether is hovering near $1,000. .
The collapse of the Terra token wiped out a string of high-profile companies, including hedge fund Three Arrows Capital
It is hoped that contagion may have run its course.
There are two sources of potential sellers for the token -- miners and risk-averse traders who will indiscriminately sell assets if the stock market crashes again.
One good sign is the strong performance of second-tier tokens such as of Matic and Aave, analysts at UBS said in an interview with the BBC's Bitcoin Tracker.
"Essentially, the market seems relatively stable," says check, who tracks the S&P 500 share price index for Wall Street research firm Canaccord Geneseo.