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This Expert Claims Crypto Winter Is Not Over But There’s A Catch

This Expert Claims Crypto Winter Is Not Over But There’s A Catch


NewsBTC
2022-11-04 02:54:20
This Expert Claims Crypto Winter Is Not Over But There’s A Catch

The ongoing crypto bear market seems like an unending journey, with more firms coming down with financial crises due to asset devaluations and other effects. Although some assets have seen brief rallies, many remain in decline. Regarding the crypto bear effects, Kathleen Breitman, CEO of Tezos, a blockchain platform, shared her opinion. Breitman thinks the end of the crypto winter is not near yet, but she is confident about the survival of a few useful crypto applications. Related Reading: Bitcoin Shocker: Lightning Network Capacity Reaches 5,000 BTC Reasons For Price Devaluations The Tezos CEO argued that the recent rallies do not signify the end of the bear market. In her opinion, easy money from venture capitalists seeking profit and low-interest rates artificially hiked the valuations of many crypto companies. Kathleen further said that even if the Feds stop hiking interest rates, only a few useful crypto applications that can grow organic users will survive. The CEO also commented on the fall in the price of many digital assets in 2022. She said easy money going into the system inflated the values of digital assets. She cited examples of crypto devaluation in the industry using the OpenSea NFT marketplace as a case study. According to data from Dune Analytics, OpenSea’s trading volume dropped from ~$3 billion in September 2021 to less than $350 million in September 2022. Kathleen explained that the cheap money phenomenon ...

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