Web3 Still ‘Mega-Mega Bullish’ Despite Crypto Mayhem, Polygon Co-Founder Says
Web3 is not about to cave in despite the adversity engulfing the crypto market.
The crypto winter is almost literally “freezing” the flow of life into 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 rocky and overwhelming for Web3 and the crypto market right now, the bearish market is said to push for a bullish turn anytime this year. And this gives a lot of investors that spark of hope.
Nailwal stays bullish for Web3 for an excellent reason: The crypto storm is just a phase, and seasons change, so he looks at the bigger picture than dwell on its sorry state. Going for the macro, instead of focusing on this season is the key to his bullish outlook.
Polygon is unfazed by the current crypto market turmoil. Image: VOI.
Nailwal Remains ‘Mega-Mega Bullish’
Nailwal took his bullish stance to Twitter, stating, “Long-term Web3 remains mega-mega bullish, so newbies keep learning and builders keep building!”
While the bearish trend can linger a bit, it would help if the US Federal Reserve could crush the uncertainty that debilitates the market. Still, investors can only hope for the best in this sticky situation with the increasing inflation.
Nailwal believes that inflation may peak around three to six months, but there’s still optimism the US central bank will help bring some semblance of normalcy in these challenging times.
While many venture capitals are extra careful with their bet selections or where they place their funds, thesis-based VCs will continue to thrive. Most of these companies will turn their focus to liquid markets.
Crypto total market cap at $885 billion on the daily chart | Source: TradingView.com
Web3 Witnesses Massive Layoffs, Crypto Selloffs
As the global stocks continue to plunge, investors are resorting to a massive selloff of digital assets tagged as high-risk. With crypto winter, trillions of dollars were slashed from major cryptocurrencies, and the increased volatility has triggered massive damage in both short and long positions.
Even though there is a global weakening in the crypto economy, with major crypto companies including Coinbase, BlockFi, Gemini, and Crypto.com conducting mass layoffs, Polygon’s co-founder is firm with his bullish outlook.
On the brighter side, Binance and Kraken are hiring more employees despite the crypto storm. They are not cost-cutting but trying to be more magnanimous and maintain a positive outlook in the wake of all these economic and crypto challenges.
For Polygon, Binance, and Kraken, the crypto winter is, in fact, the best time to grow, expand, and hire more people.
Featured image from Next Big Brand, chart from TradingView.com