Guess what's happening? Ever since ESG made a stink about POW's harmful effects to the environment just over a year ago, BTC and other POW coins topped out. Institutions are very wary of investing in anything that doesn't have Black Rock's special approval.
If this was anything to do with anything then Dash would be at the top of the "mined coins" league, not the bottom because only half of its supply is exposed to competitive mining compared to the others.
So this is just another bogus narrative which deflects from the elephant in the room - that giving away free coins to existing holders beyond the point of diminishing returns has a chronic and corrosive effect on marketcap.