I am actually impressed on how well crypto took this all bad news and failing projects.

If you asked me in summer what wil happened if FTX will colapse I would have said it would be the death of crypto.

But here we are, project after project is colapsing, FTX included, and BTC price is still holding over 15k. Many crypto prices fell more than 80% from ATH but still, for some of them, the price is higher than it was during 2019-2021. This tells a lot about the whole space not only about those. The Total Market Cap is still at the levels of 2018 ATH.

I think this all mess is part of how the adoption is happening and it was inevitable. Bad projects fail, gamblers lose, uninformed lose, smart people win ... this happens anyway all the time in life.