Bitcoin market value shrinks by $235 billion, with significant growth in tokenized assets

According to Bloomberg, the market value of Bitcoin has decreased by about $235 billion this year, and the total market value of altcoins has dropped from $431 billion in November 2021 to about $170 billion. Nevertheless, stablecoins have an annual trading volume of $390 billion and are being integrated into the global payment system. Wall Street firms are accelerating the tokenization of stocks, bonds, and money market funds. BlackRock's tokenized money market fund BUIDL has assets worth $2.4 billion, and Nasdaq has partnered with Kraken to provide tokenized stocks. Currently, over $30 billion in assets have been tokenized.