It's a question I've had on my mind for some time now. People in the crypto community think of the stock market as being part of a legacy monetary ecosystem, one that we are forced to take part in but that is inherently opposed and antithetical to a blockchain philosophy.
You would think that when people flee the stock market, they'd come here. Sadly, this does not seem to the case. Quite the opposite, in fact. When things look back on the stock market, usually there's a drop in crypto markets as well.
There's a question here. If they're taking it out of the stock market and out of crypto, where are they putting it? The real movers and shakers, people with enough money to effect the markets in big ways, usually have a very low liquidity. I'm no financial expert, but this is going to be the case for most people with enough money to actually do any real investing.
So if it isn't sitting as a number in a bank account or in some large, Scrooge McDuck vault in the form of a sea of gold coins, where is it? I've heard that it moves into other more stable investment vehicles, such as commodities and bonds, but rumor has it that lately even these are far from a sure thing (well, the bonds at least).
It's an interesting question, but it's far from the only one.
For example, why in the world are the stock market and crypto so closely related as far as how they're faring? Conspiratorially, I could say that the powers that be put massive amounts of money into crypto and are sure to crash the markets alongside the stock market in order to prevent a huge crypto gold rush during recessions. But although I have some suspicion there may be some truth to this, I don't have a shred of proof. So I digress.
If you're an Occum's Razor sort of person (the most likely explanation is usually the simplest), then maybe you prefer to think that crypto is basically seen as just another investment vehicle at the moment. In this case, it might well take some economically jarring event (likely another 2008-like crisis) to jolt people into seeing crypto as something more.
Of course, there's always the slow route. Maybe platforms like Hive eventually cross some scalability hurdle that finally gives them a mass appeal, creating a precambrian explosion of apps as devs clamber over themselves to take advantage of all the platform has to offer.
Despite the hard and tireless work of those maintaining and continuing to build the platform, it seems we are still some ways from that dream.