-60% is a smaller decline in contrast to many major banks during the 2008 economic crisis.
There are a few differences:
- the other banks are not in such a crisis and there is no economic crisis affecting every single player out there, it's just them
- 61.02% is on a 5-day period, if you look at 1 year the numbers are -94.56%
That being said, seems like Coinabse is jumping from a sinking ship to one that just hit the iceberg, and contagion is spreading to Signature Bank which Coinbase just replace Silvergate with.
Funny though, Signatures shares were going better from December till February since they decided
they will shrink their crypto exposure now they are back on the rollercoaster.
About time for a major cleanup, we've diverged way too much from being our own bank to having crypto banks influencing the markets more than normal users and usage.
