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(Bloomberg) -- Market making in digital tokens used to be a font of outsized profitability. The picture today is very different as costs jump and investors avoid a crypto sector scarred by a $2 trillion rout.Most Read from BloombergHuawei Teardown Shows Chip Breakthrough in Blow to US SanctionsWhy China Is Avoiding Using ‘Bazooka’ to Spur EconomyMercedes Bets on Range Boost in Swipe at Tesla’s EV LeadOpenAI CEO Sam Altman First Person to Get Indonesian Golden VisaThe price crash led to bankruptc
Crypto market value topped $3 trillion back then but has sunk to $1.1 trillion, hurt by higher interest rates that crushed speculative ardor.
Market making profitability has slumped 30%
Without the intense pressure or hype, the metaverse movement pushes on to improve interoperability, avatars and more.