StartKryptowährung NewsA Crypto Winter Would Be Welcomed by Top Developers

    A Crypto Winter Would Be Welcomed by Top Developers

    • Vitalik Buterin said on Saturday that if the prices of digital assets continue to fall, many people in cryptocurrencies will be happy.
    • Ethereum co-founder told Bloomberg that Slump has revealed which projects are long-term sustainable.
    • He said cryptocurrencies feel like they have changed from a niche market to part of a mainstream financial market.

    Ethereum co-founder Vitalik Buterin is unhappy to see the continued decline in digital currency prices, as the slump could wipe out projects that are unlikely to be feasible. It states that it is not.

    Given the sustained rise in inflation and the expected rise in interest rates, cryptocurrencies have fallen alongside stocks in recent weeks as investors become more cautious about taking risks.

    Federal Reserve And geopolitical tensions.

    But with more losses

    Read more: A Crypto Winter would be welcomed by top developers

    Bear market — Generally, if prices fall 20% from recent highs — Buterin told Bloomberg that in the crypto world, some people wouldn’t be discouraged.

    “Many people who are deeply involved in cryptocurrencies, especially those who make things, welcome the bear market,” he said in an interview released Saturday.

    Ethereum’s native token Ethereum has fallen 35% year-to-date from $ 3,722 in early January to $ 2,608 in the final check on Monday, according to CoinMarketCap data. Bitcoin, the major cryptocurrency, has so far declined by 19% in 2022 due to the slump in the broader market.

    When crypto prices are rising

    Read more: Crypto winter welcomed top developers says

    Bull market He said, it attracted so much attention and encouraged speculative thinking about using cryptography in projects.

    On the other hand, he argued that falling prices distinguish between curious and serious people. As a result, a “cryptocurrency winter” where prices continue to plummet and fail to recover over time can be considered positive.

    “Winter is a time when many of those applications are lost, and like both models and teams and people, we can see which projects are really long-term sustainable,” said Ethereum co-founder. Says.

    The NFT Marketplace OpenSea is an example of a project that has survived the last cryptocurrency winter. It was established in December 2017, a few days before the price of cryptocurrencies plummeted. However, in January of this year, it managed to overcome the market valley with 1 million active wallet users and a valuation of $ 13 billion for the first time.

    Read more: A Crypto Winter Would Be Welcomed by Top Developers

    Buterin wasn’t sure if the crypto market was already in the new winter of losses, or just a reflection of the movement of other assets, as digital currencies attract more mainstream investors. ..

    “The crypto market has moved from this niche group, which is managed by a very niche group of participants, from something that is fairly separate from traditional markets to one that behaves as if it were part of mainstream finance. It feels like a switch. The market. “

    Cryptocurrency losses are in line with the sharp decline in U.S. stocks, especially those suffering from the wave of risk aversion brought about by rising inflation and the prospect of a possible economic blow to the Fed’s rate hikes. increase. Geopolitical tensions around Ukraine.

    read more: Despite recent volatility, BNY Mellon Wealth Management’s head of investment analyzed why stocks are expected to recover 8-10% this year, and three excellent investments in the current mid-cycle bull market. Sharing a strategy.

    Find more: Crypto winter be welcomed top developers – Krypto-NFTs

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