Leading cryptocurrencies Bitcoin and Ethereum experienced serious corrections during the week. While Bitcoin and Ethereum try to maintain their current levels, Bitcoin continues to trade at $ 57,500 and Ethereum at $ 4,018.
While the crypto market has been in decline this week, Ethereum co-founder and ConsenSys founder Joe Lubin made evaluations about the crypto money market in an interview with Bloomberg.
Joe Lubin cited the very high volatility of cryptocurrencies in the last quarter of the year as the reason for the recent decline in the crypto market.
DeFi and NFT Madness!
Stating that NFTs showed a great growth during the year with the explosion in different sectors including sports, entertainment and arts, Lubin said that the explosion of NFTs was “amazing”.
Referring to the DeFi industry, Lubin stated that DeFi institutions have started to have a great impact across the industry and that there is a great development in the crypto industry.
Recently Popular Technology Metaverse!
Ethereum co-founder Lubin said that crypto and technology sectors such as Metaverse and Web3 have become popular lately, and many companies have become interested in this field after giant names such as Facebook and Microsoft started to be interested in Metaverse.
After stating that ConsenSys, of which he is the founder, also plans to create a “consumer-oriented Metaverse powered by Blockchain”, Lubin stated that a Metaverse powered by Blockchain will function like decentralized application protocols.