The market crashed at LW's release because people that would normally liquidate over the course of 6-8 months were suddenly liquidating thousands and thousands of eggs at once for cross-site trades. Since then, it hasn't recovered because so many were injected back into the supply so quickly.
I know people have sited 'oh, covid grinding!' as the cause, but no, because then the same phenomenon would've happened in 2020-2022 (which it didn't; this is a historic low for this time of year), and people have also cited 'well people know to invest so now they're useless' but again, while prices haven't hit as high as the first 1-3 years, they have still consistently reached 250-260g+ yearly by late summer every single of the last few years, and they were at 240g the day before LW launch. They then crashed to 225g in the first couple days of LW cross-site trades, and haven't really rebounded since (probably not solely due to LW, but I'm not sure the other factors; maybe others losing confidence in their investments and choosing to liquidate?)
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I know people have sited 'oh, covid grinding!' as the cause, but no, because then the same phenomenon would've happened in 2020-2022 (which it didn't; this is a historic low for this time of year), and people have also cited 'well people know to invest so now they're useless' but again, while prices haven't hit as high as the first 1-3 years, they have still consistently reached 250-260g+ yearly by late summer every single of the last few years, and they were at 240g the day before LW launch. They then crashed to 225g in the first couple days of LW cross-site trades, and haven't really rebounded since (probably not solely due to LW, but I'm not sure the other factors; maybe others losing confidence in their investments and choosing to liquidate?)