FTX is now returning over $5 billion to its former users and in my opinion, this is what the market truly needs at this time. Its previous round of repayments was largely overlooked, the markets were not moving at all and users were still "nursing their wounds" after the exchange collapsed.
But this time it’s different because there's more optimism now and the timing can’t be better.
Individuals having their money in stablecoins can enter the marketplace immediately without waiting or exchanging anything. It's quick and easy and this makes a big difference.
Sentiment matters the most in this space.
If everybody feels fearful, even billions of money finding their way into wallets will simply sit idle. This time, with the great rally and the what's going on in Congress regarding "level playing-field" rules, investors might use this money for real. I believe institution will take this as a greenlight and will not be holding back waiting for what the government does.
Finally, the air smells less poisonous.
Some will exit for good out of past experience, but a lot of people will remember what brought them in the first place and will give the game another try.