Like a tenacious balloon, irrespective of how laborious crypto will get knocked down, it tends to drift again up once more. I’ve discovered that to be true in all of the years I’ve coated the decentralized market and economic system since 2013.
Nonetheless, the most recent crypto bust is beginning to look somewhat completely different.
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After a prolonged downturn — a crypto winter, if you need — blockchains and their constituent tokens and companies appear to be on a rebound. Knowledge paints the image: Spot buying and selling volumes reached a 12-month excessive earlier this month, the whole worth of crypto tokens has appreciated materially in current months, and even NFTs are exhibiting indicators of life.
Including to the depend, the current launch of spot bitcoin ETFs exhibits that within the crucial United States expertise market, the authorized system might stay extra crypto-positive than elsewhere on this planet. China and India come to thoughts.
But, regardless of the run of constructive information, enterprise capitalists’ curiosity in web3 startups continued to say no in This fall 2023, dipping additional beneath a severely depressed third-quarter determine. This begs the query: When will VCs flip the spigots again on?