The cryptocurrency crash caused altcoins to plummet by 70%, and Wall Street's ETF plans have been thwarted

ChainCatcher news, as the cryptocurrency market has recently plummeted significantly, some altcoins have seen their prices drop by as much as 70% in the past week, resulting in the evaporation of tens of billions in market value.

Previously, Wall Street institutions had actively launched ETF products related to various altcoins, but this market crash has exposed severe liquidity and stability issues with these small crypto assets, with buy orders almost disappearing when liquidity dried up. Analysts point out that although Wall Street has attempted to package these assets into regulated markets, most areas of the cryptocurrency space remain as unstable as the "Wild West of finance."