Flight to safety in the crypto market

In 2022 crypto market participants have been climbing down the risk ladder, selling their smaller coins for blue-chip coins like bitcoin.
Source: Tradingview (Coinbase, FTX)

To gauge the state of the broad crypto market, we can study the performance of several indexes consisting of different coins.

The best performer in 2022 is the Exchange Token Index, which is down 14% in an overall red market.

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