Web3 is unwilling to budge despite the adversity engulfing the cryptocurrency market.
The crypto winter is almost literally “freezing” the flow of life in the digital currency ecosystem. But despite this, Polygon co-founder Sandeep Nailwal maintains a positive attitude in the face of uncertainty.
While things may be tough and overwhelming for Web3 and the crypto market right now, the bear market is said to fuel a bullish turn anytime this year. And this gives many investors that spark of hope.
Nailwal remains bullish for Web3 for an excellent reason: the crypto storm is just a phase, and the seasons change, so he looks at the big picture rather than dwelling on his sorry state. GRAMGoing macro, rather than focusing on this season, is the key to their bullish outlook.
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Polygon is unfazed by the current crypto market turmoil. Image: VOI.
Nailwal remains ‘mega-mega bullish’
Nailwal took his bullish stance on Twitter, stating: “Long-term Web3 is still mega-mega optimistic, so newbies keep learning and builders keep building!”
While the downtrend may linger for a bit, it would help if the US Federal Reserve could squash market-weakening uncertainty. Still, investors can only hope for the best in this difficult situation with rising inflation.
Nailwal believes that inflation may peak in around three to six months, but there is still optimism that the US central bank will help bring a semblance of normalcy in these trying times.
While many VCs are very careful about their betting selections or where they put their funds, theses-based VCs will continue to thrive. Most of these companies will focus on liquid markets.
Crypto total market cap at $885 billion on the daily chart | Source: TradingView.com
Web3 witnesses mass layoffs, crypto sales
As global stocks continue to slide, investors are turning to a sell-off in digital assets labeled as high-risk. With the crypto winter, trillions of dollars have been cut from major cryptocurrencies, and the increased volatility has caused massive damage to both short and long positions.
Despite there being a global weakening in the crypto economy, with major crypto firms including Coinbase, BlockFi, Gemini, and Crypto.com making massive layoffs, the Polygon co-founder remains steadfast with his bullish outlook.
On the bright side, Binance and Kraken are hiring more employees despite the crypto storm. They are not cutting costs, but trying to be more magnanimous and keep a positive outlook in the wake of all these economic and crypto challenges.
For Polygon, Binance, and Kraken, crypto winter is indeed the best time to grow, expand, and hire more people.
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Featured image from Next Big Brand, chart from TradingView.com