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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 financial system since 2013.
Nonetheless, the most recent crypto bust is beginning to look a little bit totally 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. Information paints the image: Spot buying and selling volumes reached a 12-month high earlier this month, the full worth of crypto tokens has appreciated materially in latest months, and even NFTs are displaying indicators of life.
Including to the rely, the recent launch of spot bitcoin ETFs exhibits that within the vital United States know-how market, the authorized system might stay more crypto-positive than elsewhere in the world. China and India come to thoughts.
But, regardless of the run of optimistic information, enterprise capitalists’ curiosity in web3 startups continued to say no in This autumn 2023, dipping additional beneath a severely depressed third-quarter determine. This begs the query: When will VCs flip the spigots again on?
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