<\/p>\n
The chief strategy officer of market intelligence firm CoinShares says that blue-chip traders are still waiting in the wings as crypto launches its \u201cmost hated rally.\u201d<\/p>\n
In a new interview<\/a> with CNBC Television, CoinShares executive Meltem Demirors says that institutional investors are still waiting on the sidelines along with a lot of retail traders.<\/p>\n \u201cThere are a lot of different factors that buyers are pricing in, but the big traders \u2013 the macro desks \u2013 they haven\u2019t started buying yet\u2026 There\u2019s still a lot of institutional investors waiting, and for me, the big, leading indicator is when retail is back and that\u2019s when the dog coins start running.\u201d <\/em><\/p>\n Demirors says that the digital assets industry is in the midst of its \u201cmost-hated rally\u201d as the public is tired of hearing about cryptocurrencies.<\/p>\n \u201c2022 was a bad year for us. not a great look starting in June and going through the end of the year with FTX. A lot of bankruptcies, failures and outright fraud.<\/em><\/p>\n We just had the final shoe drop with Binance\u2026 Also, we saw an announcement that [Changpeng Zhao], the founder of Binance, settled with the SEC (US Securities and Exchange Commission)\u2026<\/em><\/p>\n As we look ahead \u2013 I\u2019m calling this \u2018the most hated rally.\u2019 We\u2019re going into the end of the year, everyone\u2019s tired of hearing about crypto, but baby, we are so back.\u201d<\/em><\/p>\n The total market cap of crypto assets on October 23rd was $1.06 trillion. It is currently sitting<\/a> at $1.60 trillion, according to TradingView.<\/p>\n