One of the successful Defi projects Decentraland (MANA) has been following the declining crypto market by losing 82% since the ATH date of November 29, 2021. Unfortunately, cryptos became commodities to trade in speculative ways while they were created to replace fiat money by removing central monetary supplying powers.
True Decentraland’s fans are not sad because the price is derived from the market which is controlled by masses who do not really want to throw fiat away. The Defi monetary tools are already here now. The time will surely come for fiat money to disappear. Only precious metal and Defi will rule the world.
Bear markets are actually launchpads for the newly rich. We should just wait for the ATL price of every crypto. MANA is surely digging for new floor prices to settle and skyrocket again by 10x or 100x soon.