The bear market is going to be a long one but things may become normal in less than a year.
“Long-term Web3 remains mega-mega bullish, so newbies keep learning and builders keep building!”
Several Venture capital funds have raised a significant amount of capital. Nailwal believes even though these entities will take a cautious approach in selecting their bets and acceptable valuations would be much lower but the exec expects the “thesis-based VCs to keep deploying.” He also added that most of them will also play in liquid markets.
Amid a weak global economic outlook, many established cryptocurrency platforms, including Coinbase, Gemini, BlockFi, and CryptoCom, havetheir workforces, citing the dramatic shift in macroeconomic conditions. Crypto firms appear to be struggling to weather the storm.