A smart contract platform AVAX owner of the brand Ava Labs President John Wu made new statements.
In his statements, Wu talked about the decline in cryptocurrencies, the correlation between cryptocurrencies and stock markets, and the Ethereum Merge update, which has been a few days away.
Wu, recently bitcoin and Nasdaq He interpreted the correlation between
“The correlation situation is an important argument for the future of cryptocurrencies. Considering that cryptocurrencies are completely independent, it is quite interesting that they move together with traditional finance. But considering that he follows tech companies, it’s not so strange.”
The administrator of the AVAX platform expects the bear season in cryptocurrencies to continue for a while:
“I think the bear season in cryptocurrencies will continue for a while. However, new initiatives and applications in the sector continue to increase. This is really important.”
wu, ethereum network will transition from a proof-of-work (PoW) system to a proof-of-stake (PoS) system. Ethereum Merge He stated that he expects an upward movement, albeit limited, in Ethereum and BTC with the update.
Wu, finally stablecoins spoke about:
“Stablecoins will exist in the future. While cryptocurrencies are falling, the value of stablecoins remains stable. Investors can expect market conditions to change by purchasing a stablecoin instead of exiting the crypto ecosystem completely in case of a downturn.”
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