Polygon CEO Sandeep Nailwal believes that Web3 continues to grow even in the bear market of cryptocurrencies, thanks to new developments and development.
Polygon co-founder Sandeep Nailwal declared on Twitter that despite the fall in the cryptocurrency market, the overall picture for Web3 remains optimistic. According to him, the correction has more to do with “macroeconomics” than with any fundamental weaknesses in the Web3 sector, and the growth of the metaverse segment continues, despite the volatility in the industry.
“In the long term, Web3 remains mega mega bullish, so newbies keep learning and developers keep building,” he said.
According to Nailwal, the bear market will last until the US Federal Reserve (Fed) is able to “eliminate” uncertainty in the global economic space and stop inflation. He added that “there may be a breather” and there is still “gunpowder in the flask to be aggressively bullish in the cryptocurrency market.” However, the likelihood of such a scenario is negligible, given investors’ fears of “strong inflation and stagflation.”
The Polygon co-founder noted that the fact that several crypto venture capital funds have raised significant amounts of capital does not play any role. According to him, these organizations will be careful when choosing investment targets. The head of Polygon expects that “venture capitalists will continue to roll out” and most of them will play in liquid markets.
Nilewal believes that after inflation peaks in 3-6 months, markets may eventually find a bottom when the Fed raises rates. Only then “everything will be normal.”
Recently, Binance Labs, the investment arm of the Binance cryptocurrency exchange, announced the creation of a new half-billion dollar fund focused on Web3 projects.
Source: Bits
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