But the 1T number is mid-crash - I think the pre-crash figure I've seen was around 3T. Adjusted for inflation, crypto is still a bit short of the dot-com crash, but not by a lot, and it doesn't seem like it's over.
The peak number was not monetizable unlike the door com crash. Dutch and Razzlekhan had five billion dollars worth of crypto, but had trouble buying 500$ Walmart gift cards. The wealth effect really never took hold- there was no market depth and the holders didn't act as if their wealth was real, so they won't change their behavior when it evaporates
